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Europe supports Greek election

Friday, August 21, 2015 - 01:19

The European Commission says it respects Greek Prime Minister Alexis Tsipras' decision to hold elections, insisting it is not worried about the implementation of the bailout. Ciara Lee reports on Europe's reaction to the upcoming vote.

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It's been a bumpy road for Greece and the rest of Europe - but creditors don't seem phased by the Greek Prime Minister's resignation. The European Commission says it respects Alexis Tsipras' decision and is not worried about the country's third bailout. (SOUNDBITE) (English) EUROPEAN COMMISSION SPOKESWOMAN, ANNIKA BREIDTHARDT, SAYING: "We are not concerned about programme implementation. Reforms have been decided by the Greek government and voted on by the parliament. They can be implemented now. We also have the prior actions that have been voted on, we insisted on these key prior actions before the programme was signed. Regardless of elections, reforms can now be implemented." But Tsipras faces a rebellion within his Syriza party. And some investors are still nervous. CCLA's James Bevan. (SOUNDBITE) (English) CHIEF INVESTMENT OFFICER AT CCLA, JAMES BEVAN, SAYING; "Markets are very concerned about the uncertainty, not least because it raises the spectre that Greece may not be able to maintain its position in the single currency. There must now be a 30 percent probability that Greece does indeed have to leave the euro." German Chancellor Angela Merkel was informed by Tsipras about his resignation while on a visit to Brazil. European policymakers say they now fully expect Greece to press on with reforms agreed under its new bailout regardless of the elections. And Eurogroup President Jeroen Dijsselbloem urged Athens to hold them as soon as possible to avoid any reform delays.

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Europe supports Greek election

Friday, August 21, 2015 - 01:19