Greece's Alexis Tsipras calls for confidence vote

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Sharecast News | 14 Jan, 2019

Updated : 11:42

Greece's Prime Minister will call a confidence vote in his own government after losing the support of a minority partner, the Independent Greeks, led by up until now by the country's Defence Minister, Panos Kammenos.

The Independent Greeks were angered by Athens's decision to allow its neighbour to the north to rename itself as Northern Macedonia, which some Greeks fear might call into question Greece's sovereignty over its own northern region, which goes by the name of Macedonia.

Critically, before that name change can go ahead, paving the way for Northern Macedonia to enter the European Union and NATO, it must be vetted by the Greek parliament.

Without the Independent Greeks' seven MPs, Tsipras's Syriza party was left with a minority of 145 in the 300-strong parliament.

A confidence vote was expected to take place later in the week.

To take note of, Syriza was running roughly ten percentage points behind its rival, the Conservative New Democracy party, in polls.

New Democracy was also opposed to the deal agreed with by Tsipras with Macedonia.

Despite the political uncertainty, as of 1133 GMT the yield on the benchmark 10-year Greek government note was unchanged at 4.30%.

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