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> Politics

Greek PM tries to restore calm and blames SYRIZA for market turmoil

Greek Prime Minister Antonis Samaras cautioned patience at Wednesday's cabinet meeting saying that the country is leaving the crisis but could slide back if there is political instability

Newsroom October 16 07:40

Greek Prime Minister Antonis Samaras blamed the main opposition Coalition of the Left SYRIZA party for stoking instability during a cabinet meeting on Wednesday. He said that SYRIZA was to blame for the market upheaval that has caused Greek bonds and stocks to plunge.

During the meeting, Mr. Samaras tried to restore calm after the stock market fell 6.25% and the yield on 10-year bonds rose as high as 7.85%. He tried to counter the panic over Greece’s propsects. “We restored Greece’s trustworthiness with a lot of effort,” he said. “Now that this is bearing fruit, we will not allow anyone or anything to undermine it.”

“The markets have been saying that Greece is doing very well for some time now, and their only concern is political instability,” said Mr. Samaras. “In the lst 24 hours, the opposition’s attitude has magnified this risk. They are directly undermining stability. Markets reacted against the country’s interest.”

Mr. Samaras stressed that people should understand that Greece is steadily leaving the crisis and not slide back undermining all that has been achieved.

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This isn’t the first time that Mr. Samaras has blamed SYRIZA for investors’ skepticism about Greece. He warned that the fued between the government and SYRIZA could have ramifications.

On his part, Government Vice President Evangelos Venizelos pointed to two issues that need to be stressed: “The first is that what we’re living through futuristic scenes, scenes from a future the country must avoid. Destabilisation and uncertainty are the biggest hurdles we face in the road towards the exit from the crisis.” He said that the second issue is the government’s problems in facing a “Stalinist method of slander.”

“This has never happened before, not in the ‘60s, not in the ‘50s. Someone may be accused of something after an event, based on some assumptions, but before anything happens – this has never happened, not even during the hardest times of Greek political life,” said Mr. Venizelos.

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