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Greek Parliament Dissolved, New Elections In June

Greece's parliament has been formally dissolved, with fresh elections set for June 17.

The June elections will seek to end the political deadlock in the country after May 6 legislative elections failed to produce a majority government and political parties were unable to form a ruling coalition.

The country is now being led by a 16-member caretaker cabinet that is not empowered to make any internationally-binding decisions.

The political vacuum raises fears of a possible Greek exit from the eurozone, since Athens needs to make new budget cuts next month to receive its next tranche of bailout money from the European Union and International Monetary Fund.

Based on reporting by dpa and Reuters