After Sunday's elections left the country with no clear outcome, the head of the party that wants to undo the terms of the bailout is now trying to form a coalition government. But it's not clear that will work, which could mean another election. And time is not on the country's side.
"The timeline going forward requires Greece to pass a budget including measures agreed to in its last bailout as a pre-condition for the first review that is supposed to occur by the end of this month," noted Derek Holt and Dov Zigler of Scotia Capital.
"A medium-term fiscal plan is also supposed to be ready by the end of May. All of this is necessary in order to prove that financing is in place for the next year. At present, these timelines are unlikely to be met and especially so if another election is called on a coalition stalemate."
For more: Greece in chaos, party chief slams ‘barbaric bailout’ - The Globe and Mail
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