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Talks On New Greek Prime Minister Continue Under Bankruptcy Threat

A Greek flag flies under a cloudy sky in Athens.

A Greek flag flies under a cloudy sky in Athens.

Greek political leaders are beginning a fourth day of talks on naming a new prime minister as the country is getting dangerously close to bankruptcy.

The talks had been going on for three days when they broke down on November 9 after a small party walked out.

The new prime minister is to lead a national unity government that will have to implement a bailout deal agreed with Greece's international lenders.

Without the emergency rescue funds, Greece risks running out of money within weeks and may also have to leave the eurozone.

But the 130 billion-euro bailout from the European Union and the International Monetary Fund (IMF) involves stringent austerity measures opposed by many Greeks.

The talks on a new national unity government involve outgoing Prime Minister Georges Papandreou's Pasok party, the opposition center-right New Democracy, and the nationalist Laos party, the last of whom walked out of the latest negotiations.

Eurozone leaders have demanded that Greek political leaders commit in writing to the terms of the bailout before Athens could receive any more rescue funds.

compiled from agency reports