SYRIZA party

Greek bonds extended losses on Wednesday, with yields on short-dated debt spiking sharply above longer-dated ones, as investors worried about the upcoming presidential elections that could catapult the leftist anti-bailout SYRIZA party to power.

 Benchmark suffers biggest drop in 27 years as foreign investors rush to sell on fears of snap general election

Former Prime Minister and New Democracy Honorary Chairman Constantinos Mitsotakis expresses his disappointment in a decision Monday by the coalition government to move forward presidential elections by two months in an interview with state-run Vouli television, due to be broadcast on Thursday, Kathimerini has learned.

Greece's conservative-led government has called for a vote in parliament for the country's new president late this month — in a surprise move that will determine its survival in the recession-weary country.

Independent Greeks MP Stavroula Xoulidou is to appear before a Supreme Court prosecutor on Thursday to answer questions regarding claims that she was offered a bribe to back the government's presidential candidate.

Greece submitted its 2015 budget to parliament without prior sign-off from its international creditors as talks with them remained stalled.

Greece's creditors are testing the country's endurance - again. If they keep pressing, they could split the euro area apart, which would be a disaster for them as much as for Greece. They need to stop insisting on the impossible, and find a way to relieve the country's debts.

The European Central Bank has reduced the haircut it applies on bonds submitted by Greek banks as collateral to borrow funds, a Greek central bank official told Reuters on Thursday, in a move to boost their access to liquidity.

Uncertainty over the government's survival and future of Greece's bailout program has spurred a second day of heavy selling on the Athens Stock Exchange, with the main index down a massive 9.4 percent.

Wednesday's plunge follows a loss of 5.7 percent the previous day. Yields on Greece's 10-year bonds also rose sharply, to above 7 percent.

LONDON – German government bond yields hit a record low on Tuesday as a monthly gauge of economic sentiment reinforced fears the eurozone’s engine may be slipping toward recession.

The ZEW institute’s index of German economic sentiment turned negative for the first time since late 2012, falling to -3.6 in October from 6.9 the previous month.