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Saturday, May 5, 2012

''Europe braces for Greek election''

From AFP

"Not only Greece but also Europe braced on Saturday for an election that polls indicate will decimate the two main parties and fail to produce a clear winner, sparking market fears about fresh eurozone turmoil.

In comments widely quoted by Greek newspapers on the eve of Sunday's vote, German Finance Minister Wolfgang Schaeuble said that if Greece's new government deviated from its commitments the country would have to "bear the consequences."

"Membership of the European Union is voluntary," the minister from the eurozone's chief contributor to Greece's 240 billion euros ($314.0 billion) in bailouts and the main proponent of European belt-tightening was quoted as saying."

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