After two bailouts totaling €240bn (£192bn) since 2010, Greece wanted to switch back to market financing from the start of next year. In October the government proposed breaking free of all financial oversight, but investors took fright at the suggestion, causing a sudden spike in the country’s bond yields. The alternative is a back-up credit line from the eurozone that Athens could tap in an emergency. However, the troika, concerned about a potential €2bn budget gap in Greece’s finances, has asked for more information on pension reform before granting the measure. Greece has also brought forward presidential elections to December 17, which could see the conservative-led government replaced by the Syriza party. Alexis Tsipras, Syriza’s leader, has fought his political campaign on an anti-troika ticket.
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