Just days after a inconclusive parliamentary election, Greeks are facing the prospect of heading back to the polls.
Greek Socialist leader Evangelos Venizelos will make a last ditch attempt to form a coalition government.
But chances are slim that Venizelos can clinch a deal after both the conservatives and leftists failed to do so in three days of talks following Sunday's election.
On the streets of Athens, residents seemed frustrated at the deadlock.
(SOUDNBITE) (Greek) GEORGE, GREEK PENSIONER:
"I expect nothing, I think we will have a new election and it's disappointing"
If Venizelos cannot form a government, the President's efforts would be the last hope before new elections are called.
(SOUNDBITE) (Greek) MARINOS, ATHENS RESIDENT:
"I want to believe that with the president's mediatory efforts the best solution for the country will be found. We don't need new elections. Everyone must agree on a compromise for the good of the Greek people."
The result of Sunday's election was a rejection of the governing parties and an EU/IMF bailout deal that brought with it a raft of austerity measures.
While most Greeks oppose the tough terms of the bailout, many are fearful that the current political deadlock could result in Greece being ejected from the euro.
Simon Hanna, Reuters.
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