Greek president, party leaders to meet

ATHENS -- Greece's president will meet with political party leaders Sunday in a last-ditch effort to broker a deal for a coalition government and avoid another general election.

Karolos Papoulias took the step Saturday after socialist leader Evangelos Venizelos officially gave up the mandate to form a coalition government after three rounds of negotiations proved fruitless.

Papoulias' office announced that the president would meet initially with the heads of the three parties that won the most votes in last Sunday's inconclusive elections -- the conservative New Democracy, radical left-wing Radical Left Coalition (Syriza) and socialist PASOK. He will then meet individually with the leaders of the other four parties that won enough votes for parliamentary seats -- the right-wing nationalist Independent Greeks, the Communists, the extreme-right Golden Dawn and the moderate left Democratic Left.

The format was designed to bring everyone to the table, as Syriza leader Alexis Tsipras had threatened to boycott the talks rather than sit at the same table with Golden Dawn leader Nikos Michaloliakos.

In theory, the president's talks with the party leaders could drag until the scheduled date for the opening of the new parliament, on May 17. In practice, precedent shows that talks could take two or three days, George Katrougalos, a professor of constitutional law, told The Associated Press. It is also possible that an impasse could be reached Sunday.

If Papoulias fails to broker a coalition agreement, Greece will have to hold new elections next month, most likely on June 10 or 17, prolonging the political uncertainty and bringing Greece's euro membership into question.

The turmoil has alarmed Greece's international creditors, who have stressed that the country must stick to the terms of its rescue deals if it hopes to continue receiving the funds that have been keeping it afloat since May 2010.