ATHENS, Nov 1 (Reuters) – The Greek government faced
possible collapse on Tuesday as ruling party lawmakers demanded
Prime Minister George Papandreou resign for throwing the
nation’s euro membership into jeopardy with a shock call for a
Caught unawares by his high-stakes gamble, the leaders of
France and Germany summoned Papandreou to crisis talks in Cannes
on Wednesday to push for a quick implementation of Greece’s new
bailout deal ahead of a summit of the G20 major world economies.
ATHENS, Nov 1 (Reuters) – Through gruelling euro-summits, he
has looked glum, wistful, even isolated; but no-one would have
guessed Greek Prime Minister George Papandreou was weighing the
announcement that sent shockwaves through Europe on Tuesday.
Even his Finance Minister was kept in the dark until, at a
meeting of deputies of his socialist party, he called a
referendum on a bailout agreed only last week. What then was the
genesis of the plan critics and many allies fear could pitch
Greece into financial disaster? Impulse or calculation, albeit
it of a kind impenetrable to most?
ATHENS (Reuters) – The leaders of France and Germany scrambled on Tuesday to limit damage after Prime Minister George Papandreou decided to let Greeks vote on a bailout package — a move that stunned markets and threw Greece’s euro zone membership into question.
European politicians complained Athens was trying to wriggle out of the 130 billion-euro rescue deal agreed at a summit only last week, concerned not so much about the fate of Greece as the possibly dire consequences for the entire currency union of the referendum.
ATHENS (Reuters) – Prime Minister George Papandreou’s shock decision to call a referendum on Greece’s bailout drew veiled threats from Germany on Tuesday and hammered markets edgy over the euro zone crisis.
European politicians complained that Athens was trying to wriggle out of the rescue deal agreed only last week, concerned not so much about the fate of Greece as the possibly dire consequences for the entire currency union.
ATHENS, Nov 1 (Reuters) – Greek Prime Minister George
Papandreou has threatened the euro zone with a new crisis with
his shock announcement that he will hold a referendum on the
last-minute bailout deal struck only last week to try to contain
the bloc’s debt mountain.
Euro zone leaders agreed to hand Athens a second,
130-billion-euro bailout and a 50-percent write-down on its
enormous debt to make it sustainable.
ATHENS (Reuters) – Greek Prime Minister George Papandreou on Monday called an unexpected referendum on a new EU bailout deal for his debt-ridden country, a move that could prompt snap elections if a public angry with austerity rejects the terms.
Pressured by his own lawmakers to share the heavy political burden of belt-tightening with other parties, Papandreou said he needed wider political support for the fiscal measures and structural reforms required by international lenders.
ATHENS, Oct 27 (Reuters) – In the small hours of Thursday,
George Papandreou thanked his aides for helping clinch a second
bailout deal for debt-ridden Greece, and admitted the strain had
almost killed one of them.
“Some were under such pressure that they needed medical
attention. I see George Zanias, thankfully with us. But George
Glynos was unable to join us after suffering a heart attack,”
Papandreou told a news conference in Brussels after an 11-hour
ATHENS (Reuters) – Prime Minister George Papandreou said on Tuesday an EU summit could turn the page on Greece’s economic crisis, appealing for unity in his Socialist party to approve austerity measures.
European Union leaders will meet in Brussels on Wednesday to adopt a plan to reduce Greece’s debt burden, fortify European banks and strengthen the euro zone’s EFSF rescue fund to contain the spread of the euro zone’s worsening debt crisis.
ATHENS (Reuters) – Greece’s embattled socialist Prime Minister George Papandreou is clinging to power after losing a deputy in the effort to impose a fresh wave of austerity on an angry public, but his grip is weakened by problems at home and abroad.
A shrinking parliament majority, street protests and lack of wider consensus are testing Papandreou’s resolve, as will any failure on the EU’s part to come up with a comprehensive solution to Greece’s biggest post-war economic crisis.
ATHENS (Reuters) – Greeks angry with austerity will continue to demonstrate against belt-tightening measures but unrest is unlikely to bring down the government unless an unexpected spark ignites a full-fledged revolt.
Salary cuts and tax hikes amid a deepening recession have brought many Greeks to the brink of survival but not yet out to the squares en masse, as they did last winter, due to what analysts say is fatigue and resignation.