George Papandreou Agrees To Step Down After Referendum Backlash, Source Says

[abelenkpe]

George Papandreou Agrees To Step Down After Referendum Backlash, Source Says

http://www.huffingtonpost.com/2011/11/03/george-papandreou-step-down_n_1074668.html?ref=business

ATHENS/CANNES, France (Reuters) - Intense European pressure forced debt-stricken Greece to seek political consensus on a new bailout plan instead of holding a referendum after EU leaders raised the prospect of a Greek exit from the euro to preserve the single currency.

Fast-moving events in Athens overshadowed the first day of a summit of the Group of 20 major economies on the French Riviera on Thursday, with anxious world leaders urging Europe to act to stop contagion from its sovereign debt crisis.

Greek Prime Minister George Papandreou bowed to cabinet rebels and agreed to step down and make way for a negotiated coalition government if his Socialists back him in a confidence vote on Friday, government sources told Reuters.

"He was told that he must leave calmly in order to save his (PASOK) party," one source said on condition of anonymity. "He agreed to step down. It was very civilized, with no acrimony."

(more at link)

------------------------------------------------------------------------------------------------------------------------------------------------
Democracy dead, world ruled by and for banks....

[ArcticFox]

1. What must the Greek people be thinking?

One minute they're looking at the opportunity to vote to have a future, the next their government is selling them up the river.

[white_wolf]

2. Socrates and Aristotle are likely rolling over in their graves at this point.

How sad that democracy dies in the place it was conceived.