Today's front pages

The EU and the IMF have paid out 4.2 of the 5.2 billion euros of aid scheduled for transfer on 10 May. However, Greece’s partners are threatening to withhold the rest if Athens does not apply austerity measures negotiated with the troika. Now that the leader of the radical-left Syriza has failed in his bid form a government, the leader of the socialists will attempt to form a coalition in “a climate marked by expectations of an exit from the euro”.

Europe issues a warning – I Kathimerini

The political crisis in Athens is increasingly raising the question of the country’s exit from the euro. Although, as it stands, the consequences of such a move would have a very serious impact on the other member states.

The day Greece will leave the euro … – La Tribune

The state has taken a 100% stake in Banco Financiero y de Ahorros (BFA), the main shareholder in Bankia, the country’s second largest credit union. Concerned about Bankia’s critical exposure to bad property loans, the government has appointed José Ignacio Goirigolzarri to lead both the credit union and BFA, with a brief to complete its nationalisation.

Government to nationalise Bankia – Expansión

President Boris Tadić’s Democratic Party (DS) and the Socialist party of Serbia (SDS), led by outgoing Interior Minister Ivica Dačić, have decided to renew their agreement to share power. Their two parties were placed second and third in 6 May general elections behind Tomislav Nikolić’s Serbian Progressive Party (SNS). However, the composition of the government will not be negotiated until after the second round of presidential elections on 20 May, which will be a run-off between Tadić and Nikolić.

Agreement between the DS and the SPS on continued cooperation – Politika

In the wake of the presentation of the government’s programme by Elizabeth II, Prime Minister David Cameron is facing growing criticism from business leaders who claim that not enough is being done to boost the economy at a time when the country is officially in recession.

Queen’s Speech: why was there no plan for growth? – The Daily Telegraph

According to an official report from the country’s energy administrator, Belgium will run short of electricity if the plan for the progressive closure of three of the country’s seven nuclear reactors is implemented in the form in which it was endorsed by government in 2003. Experts are therefore recommending a progressive exit from nuclear power to begin in 2015.

Lights to go out from 2014 – De Morgen

In the wake of demands from Greece and France, the International Monetary Fund is requesting that Berlin adopt a more flexible attitude with regard to budgetary discipline and the drive to fight inflation in the Eurozone.

Germany under increasing pressure – Die Presse