POSTED: 02:39 a.m. HST, Jun 10, 2012
ATHENS, Greece (AP) — Socialist leader and former finance minister Evangelos Venizelos has called for a broadly-based coalition government to renegotiate Greece's bailout agreement with its creditors after national elections on June 17.
Venizelos, who had negotiated the previous bailout deal, along with a partial debt write down, says a narrow coalition government would be unable to renegotiate better terms. Venizelos says he has communicated his proposal to the leaders of four parties - including conservative New Democracy and radical left Syriza, despite the latter's threats to pull out of the deal altogether.
Venizelos' socialists received a drubbing in the inconclusive May 6 election, dropping from 44 to 13 percent and third place. Coalition talks foundered leading to new polls. No party is expected to win an outright majority this time, either.