German Chancellor Angela Merkel told Greece’s president Friday she hoped the uncertainty over its government would be resolved as soon as possible, a German government spokeswoman said.

Merkel made a call to President Karolos Papoulias on Friday morning, ahead of her visit to the United States for the G8 summit of international leaders.

“(Merkel) reiterated the German position that Europe is waiting for the elections and that it is the wish of all European partners and also of Germany that a government is formed as quickly as possible after the elections,” the spokeswoman said.

A temporary Greek government took office Thursday as the country wrestles with a political crisis that sprang from its inability to pay its debts.

Greece is heading toward new elections next month, with polls suggesting a narrow victory for a radical leftist party that wants to tear up an international loan agreement that forced the government to make deep budget cuts.

That possibility has sent ripples of fear through markets in Europe, Asia and the United States as analysts worry that it could ultimately lead to the collapse of the euro currency used by 17 European nations.

Ratings agency Fitch cut Greece’s long-term credit rating from B- to CCC on Thursday, reflecting worries about its ability to remain in the eurozone.

“The downgrade of Greece’s sovereign ratings reflects the heightened risk that Greece may not be able to sustain its membership of Economic and Monetary Union,” Fitch said.

“In the event that the new general elections scheduled for 17 June fail to produce a government with a mandate to continue with the EU-IMF programme of fiscal austerity and structural reform, an exit of Greece from EMU would be probable.”

Greek voters punished the major parties at the polls this month for the harsh budget cuts imposed by the country’s international lenders, the European Union, European Central Bank and International Monetary Fund.

The election left no party able to form a government, creating deep uncertainty about Greece’s ability to continue to meet the terms of its bailout package and therefore its debt obligations.

Merkel said Wednesday that she is working to keep Greece in the eurozone.

“Europe needs to show solidarity and help, particularly with growth, unemployment and development,” she told CNN.

Merkel, a champion of forcing governments to balance their budgets in order to promote stable economic growth in Europe, said she regrets the suffering of the Greek people in the face of tough budget cuts.

“It’s very bitter, obviously,” she said of the austerity measures that have left some Greeks struggling to pay for food or utilities.

But, she said, “Sacrifices had to be made. … I think these are necessary measures that had to be taken.”

Alexis Tsipras, the leader of the leftist Syriza bloc, leads in opinion polls ahead of the June 17 election. On Thursday, he urged the public to support him.

“People will conquer fear. They will not succumb; they will not be blackmailed,” he said, accusing the parties that made the international loan agreement of “irresponsible scaremongering.”

The Centre for Economics Business and Research in London, meanwhile, issued a stark warning Thursday.

“The end of the euro in its current form is certain but will be traumatic,” the center’s Douglas McWilliams predicted.

He estimated that the “immensely painful” breakdown of the currency used by 17 countries would cost a minimum of $300 million.

— CNN’s Laura Perez Maestro and journalist Elinda Labropoulou contributed to this report.