Greece: Papandreou Out

November 7th, 2011
in econ_news

samaris-antonis Econintersect: A temporary solution has been reached to the deadlocked Greek government crisis described in a GEI News article last night.  The resolution was much along the lines that had been insisted on by Antonis Samaras (pictured), leader of the major opposition New Democracy party.  The European Union gave Greece 24 hours to explain how it will form this coalition government in order to enact the latest emergency bailout funding.  The successor to outgoing Prime Minister Papandreou will named Monday (November 7).

Follow up:

From the Global Post:

Greek Prime Minister George Papandreou will step down as the leader of the government on the condition that the controversial 130 billion euro bailout deal is approved, Greece's president Karolos Papoulias announced on Sunday night, CNN reported.

The announcement follows a meeting on Sunday in which Papandreou and Antonis Samaras — the leader of the New Democracy party, Greece's leading opposition party — agreed to form a new government, Reuters reported.

Reuters has reported that “details of the deal are thin.”

Source:  GEI News, Reuters and Global Post

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