Greece will hold a new election in June after days of talks failed to resolve the country's political deadlock, party leaders said Tuesday. The Athens Stock Exchange plunged on the news, diving 4.86 percent minutes after the announcement before recovering somewhat.
The May 6 election left no party with enough votes for a majority in parliament and repeated efforts over nine days to cobble together a coalition government proved fruitless.
"The country is unfortunately heading again to elections," Socialist party leader and former finance minister Evangelos Venizelos said. "It is heading back to elections in a few days under very bad circumstances, because certain people coldly put their short-term party interests above the national interest."