greece to hold elections oct 4 and will impact property market
News Posted On: 03 September 2009
Greek Prime Minister Costas Karamanlis has announced his decision to hold new elections in Greece on October 4th.
"I asked President Karolos Papoulias to disband parliament on Monday so that elections can be held on October 4," Karamanlis said in a televised interview.
Karamanlis' government has taken a battering because ofthe economic crisis which has been felt hard in Greece, and because of scandal whittling its majority down to just one minister. This has made managing the country difficult when times are hard enough.
Opposition parties have blamed Karamalis' government for not acting quickly enough to stave off the economic crisis when he had a sufficient majority to do so. They have welcomed his decision to let the public decide on whether he and his conservative party is fit to continue running Greece.
It will no doubt be an election watched by overseas property buyers as avidly as by Greek residents. This is because Greece electing a socialist party may impact positively on relations with Cyprus, but Socialist parties also tend to make people nervous about investment.
Greece was voted 3rd most popular country among those searching for overseas property on the Property Abroad.com portal the month before last. That was a 1 place improvement on the previous month and results for last month are still being compiled.
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