Greek leftists reject technocrat proposal

Greek leftists rejected a last-ditch proposal by the head of state yesterday to put technocrats in charge of the country, as financial markets slid on speculation that political turmoil would force Athens out of the eurozone.

President Karolos Papoulias has summoned party leaders to hear his proposal today. They agreed to attend but expressed little hope it would resolve a deadlock which has left Greece with no government to steer it away from bankruptcy, since an inconclusive parliamentary election eight days ago.

If Papoulias’s proposal fails, he must call a new vote, which opinion polls suggest would be won by leftist opponents of a painful EU/IMF bailout. European leaders say unless Greece fulfils its bailout commitments, they will cut off funding, which could push Greece out of the euro.