Snap general election called as Parliament fails to elect President
Greece will call a snap general election within the next 21 days as the Hellenic parliament failed to elect a President in its third and final round.
Stavros Dimas failed to garner the required 180 votes from the 300 seat parliament. Dimas managed to gather just 168 votes with 132 blank votes being registered. The failure to elect a President automatically triggers a general election after which a further attempt is made to elect the President.
Tomorrow the incumbent President, Karolos Papoulias, will dissolve parliament and fresh elections will be called, possibly for Sunday 25th January 2015. The Athens Stock Exchange basic share price index dropped 10.90% on the news that the Hellenic Parliament had failed to elect a President.