Greece election

Greece to hold new election on 17 June

Final talks to form a pact which had already been going on for days failed on Tuesday. raising new concerns over Greece's eurozone future. There was no outcome from the 6 May elections previously.

The whole political situation in Greece has dragged on for months and caused the euro to drop drastically. Greek newspapers report that around 700m euros (£558m; $897m) has been withdrawn from high street banks over the past few days by worried investors. 

In march, European leaders confirmed that they will cut off funding for Greece if it rejects the bailout agreed, which meant that Greece had to declare bankrupt and exit the euro.

Recent opinion polls suggest that Syriza, a leftist bloc opposed to the tough bailout conditions who came in second on the 6 May elections, would win the new election, but would still not gain enough for a parliamentary majority.

No one wants a Greek exit from the euro currently as it would not benifit the EU at all.