greek vote effecting markets, page-3

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    It looks like a case of "give us more or else".

    Opinion polls suggest Mr. Papandreou faces a struggle to convince an increasingly angry electorate. A survey published at the weekend showed that 58.9% of Greeks oppose last week's European deal; there are fears that the planned debt restructuring will bring further pain while yielding few benefits for the country.

    A binding voter rejection of Europe's terms for a bailout would leave euro-zone leaders such as German Chancellor Angela Merkel and French President Nicolas Sarkozy with a bitter choice. Either they let Greece default on its €355 billion of public debt, risking panic throughout Europe's government-bond markets and banking sectors; or they cave in and offer Greece more generous bailout terms.

 
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