GREECE is back in the headlines today: the Athens stockmarket crashed by more than 10% in intraday trading, and in an echo of the years of euro crisis, ten-year government-bond yields headed upwards. Markets have been spooked by the government’s decision to call a vote later this month to elect a new head of state. The government, a coalition of New Democracy and Pasok, has 155 seats. It will have three shots at winning parliamentary support for its nominee, Stavros Dimas; the bar for victory is lowest on the final vote, when 180 votes out of 300 parliamentarians are needed. Although the presidency itself is unimportant, the consequences of a government defeat may be profound. That would trigger a general election, and potentially propel Syriza, a leftist party, to power. Precisely what Syriza wants is not clear, but the risk that it would try to renegotiate its bail-out agreements with the IMF and the European authorities explains today’s jitters.