It's back to the polls for Greeks after government crisis talks failed.

The country has been in political turmoil for over a week after an inconclusive election.

The president has tried to persuade party leaders to form a coalition government but lengthy talks ended in stalemate.

The uncertainty has pushed the country further towards bankruptcy and a possible exit from the the euro zone.

Socialist party leader Evangelos Venizelos.

(SOUNDBITE) (Greek) SOCIALIST LEADER, EVANGELOS VENIZELOS, SAYING:

"We shouldn't have reached this point, we are forced to go (to elections). Let's go united, in the best way, to safeguard Greeks. Let's move towards something better, and for God's sake, let's not move towards something worse."

Last week's election left parliament split over a 130 billion euro bailout package which has led to deep wage, pension and spending cuts.

A new election is likely to be held in mid June, in the meantime a caretaker government will be formed.

Democratic Left Leader Fotis Kouvelis says it was the only option.

(SOUNDBITE) (Greek) DEMOCRATIC LEFT LEADER, FOTIS KOUVELIS, SAYING:

"The Democratic Left did everything possible, I did everything I could for the six percent of the population that honoured me with its vote, with a deep awareness of the interests of the country and the population, in order for the country not to resort to elections.

Time is running out - Greece only has enough money for the next few weeks.

And it won't get the next bailout until a new government takes charge and stands by previous austerity promises.

That is now looking less likely - polls predict anti-bailout leftists will win a repeat election, fuelling speculation that Greece will exit the euro zone.

Ciara Sutton, Reuters