Greece's financial markets' resumed their rocky ride on Tuesday as lawmakers failed again to approve the prime minister's choice of president—a result that could send the country back to the polls and into an uncertain future in the euro.
The parliamentary vote Tuesday follows an inconclusive first round last week which saw the prime minister's favored candidate, Stavros Dimas, failing to get enough votes.
On Tuesday Dimas also fell short, obtaining just 168 votes. Voting will now go to a third round at the end of the month—and if he fails again, general elections will be called.
"This could well go to three rounds and if the required amount of votes are not secured, then snap elections will ensue which brings the risk of a government of a far less reformist agenda," said Simon Smith, chief economist at FxPro, in a research note out on Tuesday.
The political uncertainty caused by the shock presidential elections and the heightened doubts over future economic policy has called Greek financial markets to nosedive this month.