VENTURE CAPITAL POST

When construction of four 6.5 billion euro toll roads across Greece resumed last year, Greek and foreign businesses rejoiced.

The euro held its ground on Monday in the face of renewed nerves over Greece prompted by a failed attempt to elect a new president, leaving the country facing an early national election which could derail its bailout program.

European shares and periphery euro zone bonds tumbled on Monday after the Greek parliament rejected the government's presidential candidate, setting the stage for an election that anti-bailout party Syriza could win.

World share markets extended their 'Santa rally' into a fourth day on Monday, as a recovery in beaten-down oil prices and the ruble and more calls for quantitative easing from the ECB helped lift sentiment.

Greece's future in the euro zone may hang in the balance once more, but investors believe the market fallout from any current political turbulence can be insulated, unlike during the region's sovereign debt crisis of 2012.

Euro zone ministers are considering extending Greece's bailout by six months to mid-2015, according to a document obtained by Reuters, but Athens said it was only willing to consider an extension of a few weeks to the unpopular program.

Greek Prime Minister Antonis Samaras announced cuts on Saturday to unpopular taxes introduced at the height of Greece's debt crisis, in a bid to show that over four years of austerity are finally nearing an end.

Government sees positive results from negotiations.