Greece tries to form coalition government

Greece tries to form coalition government

POSTED: Monday, May 14, 2012 - 8:30am

UPDATED: Monday, May 14, 2012 - 8:34am

Negotiations resume monday to try to form a coalition government in Greece and avoid another election. The Greek president has summoned party leaders back to negotiations after talks failed on sunday to create a coalition government.

A left-wing party that came in second in the recent parliamentary elections is refusing to join a coalition, demanding that the terms of the international bailout for Greece be scrapped or re-negotiated. Uncertainty about Greece's future sent world stock markets tumbling monday morning.

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