George Papandreou To Resign

November 3, 2011 by staff 

George Papandreou To Resign, Greek opposition leader Antonis Samaras, on Thursday asked Prime Minister George Papandreou asked to resign and early elections in six weeks.

Papandreou, who spoke by telephone Samaras Thursday morning, has offered to hold talks with the party of conservative leader in the application of an interim government to run the country until early elections are held.

Greece’s embattled Prime Minister says he has invited the opposition Conservatives to join talks on a settlement of debt in Europe.

Greek Finance Minister Evangelos Venizelos asked the Greek government categorically ruled out a referendum on a crucial rescue plan and do everything possible to implement the agreement.

Venizelos had initially supported the referendum, but later broke ranks with his prime minister, saying that Greece was not needed at this time.

In a speech to his fellow socialist legislators on Thursday, Venizelos said the bailout must be approved by an increased majority of 180 lawmakers in the parliament of 300 seats. He said the debt-choked country needed its sixth installment of aid from foreign lenders before December 15.

Papandreou triggered a crisis across the continent on Monday, when he announced he would put the latest European offer to reduce the huge debt of Greece – an agreement that led to months of negotiations – to a referendum. The idea horrified other EU nations and creditors of Greece, which caused turmoil in financial markets as investors worried about the possibility that Greece is bound to a disorderly default.

Two officials close to Papandreou said on Thursday the idea of ??the referendum has been scrapped, after the debt deal won some support from the opposition.

“The elections as a solution today and at this time would mean a much greater danger of bankruptcy and the current output of the euro”, said Prime Minister at the meeting. “I’ll talk with (opposition leader) Mr. Samaras, so we can discuss the next steps, based on a broader consensus.”

He said he was satisfied “because, even if no referendum,” he was glad that the whole discussion “has at least led many people to a rational view” of the serious economic situation in Greece.

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