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Nov 3, 2011

Greek leader signals he may ditch referendum plan

ATHENS (Reuters) – Prime Minister George Papandreou said on Thursday he would scrap a referendum on Greece’s bailout lifeline if the conservative opposition agreed to back the package in parliament.

Events in Athens gathered speed a day after Papandreou held a bruising meeting in France with German and French leaders, who told him Athens would not receive a cent more in aid until it voted to meet its commitments under the bailout deal.

Nov 3, 2011

Papandreou faces rapid fall after long climb to top

ATHENS (Reuters) – Prime Minister George Papandreou faces a sudden fall from power just two years after the son and grandson of famous Greek premiers won election and immediately warned that his nation was staring into a financial abyss.

State television and the state ANA news agency reported Papandreou would meet President Karolos Papoulias Thursday, without giving any further details, but Papandreou’s options are either to submit his resignation or request a unity government.

Nov 3, 2011

Greek PM on brink, world tells Europe to fix crisis

ATHENS/CANNES, France (Reuters) – Greece’s government was on the brink of collapse on Thursday, casting doubt on plans for a referendum on staying in the euro, as European leaders talked for the first time of a possible Greek exit to preserve the single currency.

Beleaguered Prime Minister George Papandreou chaired an emergency cabinet meeting in Athens, with his finance minister and some Socialist lawmakers in revolt, after France and Germany gave Greeks an ultimatum to make up their minds.

Nov 3, 2011

Greek government on brink of collapse

ATHENS (Reuters) – The Greek government teetered on the brink of collapse on Thursday over plans for a referendum on a euro zone bailout, with ruling party defections casting grave doubt on whether Prime Minister George Papandreou can survive a confidence vote.

“I don’t think the government will last until tonight,” said Costas Panagopoulos, Managing Director of pollsters ALCO.

Nov 3, 2011

Greek government in turmoil, top minister opposes referendum

ATHENS (Reuters) – Greek Finance Minister Evangelos Venizelos has come out against holding a referendum on the euro zone bailout, a ministry source said on Thursday, breaking ranks with his prime minister as the government faces collapse.

A lawmaker of Prime Minister George Papandreou’s socialist party PASOK said she would not support the government in a parliamentary vote of confidence on Friday, cutting its majority for the vote to just one. Snap elections would probably follow if Papandreou’s majority vanished.

Nov 3, 2011

Greek govt in turmoil, top minister opposes referendum

ATHENS (Reuters) – Greek Finance Minister Evangelos Venizelos has come out against holding a referendum on the euro zone bailout, a ministry source said on Thursday, breaking ranks with his prime minister as the government faces collapse.

A lawmaker of Prime Minister George Papandreou’s socialist party PASOK said she would not support the government in a parliamentary vote of confidence on Friday, cutting its majority for the vote to just one. Snap elections would probably follow if Papandreou’s majority vanished.

Nov 3, 2011

Euro zone contemplates future without Greece

ATHENS/CANNES, France (Reuters) – European leaders were preparing Thursday for Greece to leave the euro zone to preserve the 12-year-old single currency.

French President Nicolas Sarkozy and German Chancellor Angela Merkel told Prime Minister George Papandreou at a torrid meeting in Cannes that Athens would not receive a cent more in aid — Greece was due an 8 billion euros aid payment this month — until it votes to meet its commitments to the euro zone.

Nov 3, 2011

Greek finance minister against referendum now-source

ATHENS, Nov 3 (Reuters) – Greek Finance Minister Evangelos
Venizelos opposes holding a referendum on the country’s euro
zone bailout package, a finance ministry source said on
Thursday, breaking ranks with his prime minister.

Prime Minister George Papandreou’s government is already
teetering on the verge of collapse due to a row over his shock
announcement on Monday of a referendum, and two more defections
from the socialist parliamentary group would wipe out its
majority and probably trigger early elections.

Nov 2, 2011

Sarkozy, Merkel to grill Greek PM on referendum

PARIS/ATHENS (Reuters) – Greece’s prime minister faces a grilling from the leaders of Germany and France on Wednesday after fighting to win the backing of his cabinet to hold a referendum on a 130-billion-euro ($178-billion) bailout package.

French President Nicolas Sarkozy and Germany’s Angela Merkel summoned George Papandreou for crisis talks in Cannes, before a G20 summit of major world economies, to push for rapid implementation of measures to tackle the euro zone debt crisis, which Athens has thrown into doubt.

Nov 2, 2011

Greek PM wins over cabinet, next up Merkel and Sarkozy

ATHENS, Nov 2 (Reuters) – Greece’s prime minister won the
backing of his cabinet on Wednesday to hold a referendum on a
130 billion euro bailout package but will find the stunned euro
zone leaders who engineered the deal last week harder to
convince.

Some of his party lawmakers called for him to quit, accusing
him of endangering Greek euro membership with his shock decision
to call a popular vote, a move that pummelled the euro and
global stocks. But the cabinet support at least gives him a stay
of execution before a confidence vote in parliament on Friday.

    • About Dina

      "Based in Athens, in charge of text, pictures and TV teams covering Greece and Cyprus since 2005. Previously based in Bucharest, in charge of Romania and Bulgaria."
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