Greek Prime Minister George Papandreou offers resignation
Greek Prime Minister George Papandreou is set to resign following emergency meetings over the euro bailout referendum, reports suggest.
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Papandreou has reportedly offered his resignation after he lost a Greek cabinet vote over plans for a referendum on whether to remain in the euro.
Economist Lucas Papdemos has been asked to form a coalition government in his place.
George Papandreou
Greek Finance Minister Evangelos Venizelos earlier came out on Thursday to oppose to referendum, along with two other ministers.
“Greece’s place in the euro is a historical conquest by the Greek people that cannot be placed in question,” he said in a statement. “This cannot be made dependent on a referendum”.
Papandreou’s decision to run a December referendum on Greece’s European membership came after he was told by Angela Merkel and Nicolas Sarkozy to “abide by the rules” of the Brussels bail-out agreement or “leave the eurozone”.
Merkel and Sarkozy said that £6.9 billion worth of foreign aid would be withheld unless Greece agreed to the terms of the bailout.
news.yahoo.com
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