Greek Prime Minister under fireBy
GREEK Prime Minister George Papandreou could be under fire as he faces a vote of no confidence after his plans for a referendum on the euro-zone bailout were scrapped on Thursday.
Papandreou faces mounting pressure to step down as Greek prime minister after he scheduled a December referendum to assess Greece’s European membership.
The proposed referendum was deeply criticised within Greece with Finance Minister Evangelos Venizelos stating, Greece’s place in the euro is a historical conquest by the Greek people that cannot be placed in question.
This cannot be made dependent on a referendum. Prime Minister Papandreou’s decision to plan a referendum came after he was told by Angela Merkel and Nicolas Sarkozy to abide by the rules of the Brussels bail-out agreement or leave the euro-zone.
The total bailout fund would give Athens £111 billion and a 50 per cent debt write-off, though would require the failing state to introduce a number of unpopular austerity measures. This is not a question of only a program,
Mr. Papandreou said. This is a question of whether we want to remain in the euro-zone.