Greek PM Papandreou to Resign After Coalition Government Formed

Sunday, 06 Nov 2011 08:13 AM

By Newsmax Wires

Share:
  Comment  |
   Contact Us  |
  Print  
|  A   A  
  Copy Shortlink
George Papandreou, the prime minister of financially crippled and politically roiled Greece, announced today that he will resign after the makeup of the nation's new coalition government is decided.

The country’s Cabinet meeting today will be the last with Papandreou as prime minister, and the resignation could come as early as tonight. The meeting is expected to focus on issues related to Monday's Euro group meeting, at which Finance Minister Evangelos Venizelos will represent Greece, a government statement said.

The prime minister, who survived a confidence vote early Saturday, will resign after the government is announced, a spokesman for Papandreou's Socialist PASOK party said.

Papandreou won the critical parliamentary confidence motion 153-145 after a week of drama in Athens that horrified Greece's European partners, spooked global markets and overshadowed the Group of 20 summit in the French resort of Cannes.

The threat of a Greek default or exit from the common euro currency has worsened the continent's debt crisis, which is already struggling under bailouts for Greece, Ireland and Portugal.

The main goal, duration, and leader of a new coalition government must be agreed before Papandreou resigns, PASOK party lawmaker Telemachos Hitiris told Greek state television today.

"We only have to wait for the prime minister's announcements in the Cabinet," he said. "Everything must be done within the day. Otherwise, tomorrow it will be hell."

Papandreou has come under fire at home and abroad for his shortlived plan for a referendum on a euro zone bailout deal. He survived a confidence vote in parliament on Saturday, but lawmakers from his party have called on him to quit.

Hitiris said elections should take place after Greece meets its obligations to euro zone partners, pinning the timing to around January or February.

Venizelos is likely to remain in his post as finance minister in a new government, sources told Greek television, according to a CNN report. Candidates for the prime minister's job include Petros Moliviatis and Loukas Papaimos, according to Greek television.

The new government will have a life of four months, according to Greek television, citing sources, and elections are to take place in early spring.

The coalition government faces the task of saving the nation from bankruptcy.

A Greek default could drag down larger European economies, analysts warn.


© 2014 Newsmax. All rights reserved.

Share:
  Comment  |
   Contact Us  |
  Print  
  Copy Shortlink
Around the Web
Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Country
Zip Code:
Privacy: We never share your email.
 
Hot Topics
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
Top Stories
You May Also Like

FBI: Denver Girls May Have Tried to Join Jihadis

Tuesday, 21 Oct 2014 17:46 PM

The FBI said Tuesday that it's investigating the possibility that three girls from the Denver area tried to travel to Sy . . .

Rep. Gohmert: New Ebola Travel Rules Leave Americans 'Exposed'

Tuesday, 21 Oct 2014 17:32 PM

Rep. Louis Gohmert says new travel restrictions on people coming into the United States from the three west African coun . . .

Author: Migrant Kids Will Get Refugee Status After Election

Tuesday, 21 Oct 2014 17:05 PM

Even though the number of Central American minors coming across the U.S. border has slowed, author and foreign correspon . . .

Most Commented

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

 
NEWSMAX.COM
America's News Page
©  Newsmax Media, Inc.
All Rights Reserved