Greek PM Papandreou In Confidence Vote - The Best from Greece

Posted on: 04/Nov/2011

The Greek Prime Minister George Papandreou is facing a vote of no confidence after scrapping plans for a referendum on the proposed eurozone bailout.

Mr Papandreou claims his only interest is the future of Greece, and has suggested he will accept growing calls to stand down if MPs back him today.

Talks of creating a new coalition Government are underway but Mr Papandreou has lost support after two days of political turmoil.

"I don't care about being re-elected. I am interested in saving the country," Mr Papandreou said.

He added that he was open to calls for the creation of a transitional government that would see through the bailout deal, with early elections to follow.

"Let everything be discussed - the makeup of the government and anything else. (...) I am not glued to my seat," he said.

The Greek political drama is overshadowing talks in Cannes, where G20 leaders are meeting.

Much of Europe was shocked on Monday when Mr Papandreou abruptly announced that he would put the £100bn rescue plan, agreed at a eurozone summit only last week, to the Greek people.

However, the Greek leader on Thursday said the "referendum was never an end in itself", suggesting he had made the call to force political agreement.

Stock markets, which saw heavy losses at the start of the week, made strong gains on Thursday after it became clear the bailout referendum would not go ahead.

source: http://news.sky.com

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