George Papandreou

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Greek Leaders Finally Huddle on Debt Deal

After delay over translation

(Newser) - The leaders of the three parties comprising Greece's coalition government finally met today to decide whether to make deeper austerity cuts in exchange for a $170 billion bailout from Europe, after three days of delays, the AP reports. The new austerity measures would be in addition to the 15,... More »

Papademos Named New Greek PM

Four days of talks finally lead to official decision

(Newser) - Greece has a new prime minister—presumably for real this time. The AP reports that Lucas Papademos, former VP at the European Central Bank, has been officially named the PM of the new interim coalition government. T he president's office made the announcement today, Reuters adds. Papademos had been... More »

Greek PM Deal Falls Through

Former European Central Bank VP Papademos once again the top choice

(Newser) - So much for the new Greek prime minister: Yesterday’s deal with parliament speaker Filippos Petsalnikos fell through after more intra-party fighting, leading to a fourth day of meetings to determine a new coalition. Former European Central Bank VP Lucas Papademos is once again the top choice and is at... More »

Greece Settles on New PM

Parliament speaker Filippos Petsalnikos will lead unity government

(Newser) - Greece has a new leader, as long as no last-minute obstacles pop up: parliament speaker Filippos Petsalnikos, who founded the ruling socialist PASOK party. Sources confirm that the parties settled on Petsalnikos to lead a unity government after three days of feuding. "We have agreed on Petsalnikos, but things... More »

Is This Man Greece's Next Leader?

Both parties look to Lucas Papademos to head unity government

(Newser) - With George Papandreou set to step down in favor of a unity government , officials from both parties have a new leader in mind: Lucas Papademos, former vice president of the European Central Bank. Many insiders see Papademos as an appropriate choice for compromise between the parties, but some remain skeptical.... More »

Greece OKs New Government at 11th Hour

Replacement for Papandreou not yet found

(Newser) - Greek leaders emerged from crisis talks today agreeing to form a new unity government without Prime Minister George Papandreou—but it's not clear they've agreed on much else, the New York Times reports. The new government is expected to put in place a debt deal that European Union... More »

Papandreou to Quit After New Govt Forms

'Everything will take its course' after he steps down, opposition says

(Newser) - Greek PM George Papandreou will step down as soon as a new coalition government is formed, CNN reports. As the Greek Cabinet met a second day today in a last-ditch effort to avoid bankruptcy, the government issued a statement saying the meeting would be the last presided over by the... More »

Greek PM Scrambling to Form Coalition

That may require his resignation soon

(Newser) - Greek Prime Minister George Papandreou has been busy shuttling around all day in a bid to put together a coalition government—so it can ratify the nation's European bailout and ease world markets—but the results so far are just more "political uncertainty," according to the New ... More »

Tonight's the Night: Greek PM Braces for Vote

Prospects uncertain; adviser eyed as interim leader

(Newser) - Tonight's the night for George Papandreou, and things still look pretty dismal . Though lawmakers yesterday managed to arrive at an agreement on Europe’s bailout plan, the Greek PM's chances of emerging on top after this evening's confidence vote are slim, the Washington Post notes. His Socialist... More »

Greek PM Resigning? Or Not?

Announcement will come in just minutes, according to BBC

(Newser) - George Papandreou will offer to resign within minutes, sources tell the BBC —which in a live blog also reports that he insists he is not resigning. The Greek PM scheduled an emergency Cabinet meeting after Finance Minister Evangelos Venizelos broke with him today, shrinking his majority to one ; the... More »

Chance of Greek PM Losing Confidence Vote: High

Meanwhile, the G20 wrestles with Greece mess

(Newser) - Things aren’t looking good for George Papandreou ahead of tomorrow’s confidence vote: The Greek prime minister has lost several key supporters over his shocking plan to put the EU bailout to a vote on Dec. 4—and now has a majority of just one, Reuters reports. Greece's... More »

Greek Cabinet Green Lights Referendum Plan

Vote could happen as soon as December

(Newser) - After a seven-hour meeting, Greece’s Cabinet voted unanimously last night to endorse PM George Papandreou’s surprise call for a national referendum on Europe’s bailout plan for the country. The vote “will take place as soon as possible, right after the basics of the bailout deal are... More »

Greece Leader Faces Revolt on Bailout Mess

George Papandreou struggling to hold his own party together

(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,... More »

Greek Austerity Measures Pass

Despite protests, bill grabs majority in parliament

(Newser) - It’s official: Greece’s parliament has approved a wave of sweeping—and wildly unpopular—austerity measures, paving the way for it to receive bailout loans from Europe to avoid defaulting on its debt, the AP reports. The bill passed 155-138, garnering even the support of Alexandros Athanassiadis, a Socialist... More »

Greek PM Faces Critical Vote of Confidence

And that's the easy part

(Newser) - Greek Prime Minister George Papandreou faces a critical vote of confidence tonight that will determine both his political future and that of Greece—and in some ways, that’s the easy part. If Papandreou survives the midnight vote (5pm ET) he’ll be able to pass austerity measures that will... More »

Europe Delays Decision on Handing $17B to Greece

New austerity measures must be passed first

(Newser) - European finance officials ramped up pressure today on Greece, delaying their decision on whether to release the next $17 billion in rescue loans to the debt-laden country. Officials indicated the next installment of emergency loans would be disbursed in July, but only if Greece enacts controversial new austerity measures including... More »

Soon, We'll Be Broke Like Greece

Unless things change, the US will be begging for help, too

(Newser) - America, remember the plight of George Papandreou, the Greek prime minister who arrived in Washington this week, hat in hand, as part of his world tour seeking help for his nearly bankrupt nation. Because “if current trends persist, an American president will be doing the same thing in about... More »

Socialists Win Big in Greek Election

Left-wing government set for power as voters turn on conservatives

(Newser) - Socialists won a thumping victory in a snap Greek election yesterday as voters threw out a conservative government after corruption scandals and poor response to a string of devastating wildfires. The socialists won 43% of the vote, 9 points ahead of the ruling party, and will have an absolute majority... More »

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