Greece Leader Faces Revolt on Bailout Mess

George Papandreou struggling to hold his own party together

By Matt Cantor,  Newser Staff

Posted Nov 1, 2011 3:50 PM CDT

(Newser) – After Greece’s prime minister shocked the world—and his own finance minister—by announcing a public referendum on the EU bailout, the government has entered crisis mode. As leaders hold emergency talks, six members of George Papandreou’s party have called for his resignation, and one has quit, leaving his party’s majority at two, the BBC reports. The opposition party wants an election, while a top MP from Papandreou’s party wants to form a unity “government of national salvation,” to be followed by elections.

“In order to save himself, Mr Papandreou has posed a dilemma of blackmail that puts our future and our position in Europe in danger,” the opposition leader says. Papandreou will meet with Angela Merkel and Nicolas Sarkozy tomorrow on the sidelines of the G20 summit. He says the referendum is needed in order to put austerity measures in place. The New York Times warns that Friday’s planned confidence vote could lead to a government collapse, ending hopes for a bailout and ultimately prompting a default and the end of the euro in Greece. Click for more.

Greek Prime Minister George Papandreou today announced a vote on the EU bailout plan.
Greek Prime Minister George Papandreou today announced a vote on the EU bailout plan.   (Getty Images)
« Prev« Prev | Next »Next » Slideshow
My TakeCLICK BELOW TO VOTE
8%
6%
26%
10%
15%
35%
To report an error on this story, notify our editors.

NEWS FROM OUR PARTNERS
Other Sites We Like:   The Street   |   MSN Living   |   PopSugar Tech   |   RealClear   |   24/7 Wall St.   |   Biography   |   Barstool Sports   |   OK!