A GREEK presidential election is not supposed to make headlines. The ruling party’s candidate, typically a low-key retired politician, normally wins the required three-fifths majority after a three-round vote in parliament. In the 40 years since Greece replaced its monarchy with a republic led by a figurehead president, no big political upset has occurred. This time it could be different.Antonis Samaras (pictured), the centre-right prime minister, has called a snap presidential election for December 17th, two months before Karolos Papoulias, the 85-year-old incumbent, steps down. This is at best a risky gamble. Sensing that political instability might rekindle the euro crisis, financial markets panicked. Prices on the Athens stockmarket plunged by almost 13% the day after the presidential vote was announced; yields on Greek ten-year bonds soared above 8% (see chart). Mr Samaras said he was bringing the presidential vote forward to restore...
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