Greece will hold a snap general election late January  after MPs today failed to vote for a new president sparking fears of a new eurozone crisis. Greek prime minister Antonis Samaras had brought forward the presidential vote in a move he hoped would avoid a general election. But his gamble has backfired spectacularly with the government's candidate Stavros Dimas failing to win a majority after three rounds of voting. Greek Prime Minister Antonis Samaras called a presidential vote in a bid to avoid a general election but his candidate  failed to poll a majority meaning an election will be held early next year
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Election to be held on January 25 with radical socialists ahead in the polls
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Greek stocks plunge by 11.3% immediately after vote but recover to 7.3%
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Greek PM had called presidential vote in bid to stave off general election
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But gamble  backfired after his candidate failed to win today
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Socialists pledged to abandon austerity and renationalise  the economy
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Athens given bailouts worth 240 billion euros in 2012
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