The Greek government close to collapse as Prime Minister George Papandreou plans for euro zone bailout

The Greek government close to collapse as Prime Minister George Papandreou plans for euro zone bailout

The Greek Prime Minister George Papandreou has planned a referendum for the 130 Billion euro zone bailout plan.

This caused big question on the image of Papandreou whether he will be able to gather a strong favour for the bailout plan.

Managing Director of pollsters ALCO, Costas Panagopoulos said, "I don’t think the government will last until tonight.”

The Finance Minister Evangelos Venizelos called a disagreement with Papandreou after an unpleasant meeting with the leaders from Germany and France.

The leaders from both countries declared that Greece will be ejected from the euro zone bailout plan id the referendum fails.

The sources revealed after a meeting with German Chancellor Angela Merkel and French President Nicolas Sarkozy, "Under these conditions a referendum is exactly what the country does not need. He would not have objections if all our pending issues such as
the loan instalment and the completion of the bailout plan had been sorted out.”

Venizelos believed that the plan for voting on bailout should not have been held along an immediate funding to Greece.

After short notice call to attend a meeting in Cannes made Venizelos to change his mind about the bailout plan.

Apparently he supported Papandreou’s plan of euro zone bailout. He is one of the most powerful members of PASOK government.

A lawmaker from Papandreou’s socialist party PASOK said she would not favour the government during the vote out in parliament.

The unstable conditions of the government can call for immediate elections, as Papandreou’s majority fade out.

PASOK was struck by confusions on Thursday. A senior lawmaker calling for a government of national unity following Papandreou’s shock call for the referendum, and another saying he should resign.

The governing party has faced rejects from inside as many members have withdrawn from their support to prime minister’s plan.

A lawmaker Eva Kaili revealed that she will be staying in the party but will not vote in favour of bailout plan.

Kaili wrote in a letter to the speaker of the parliament and said, "Herewith I inform you that I am not resigning as an elected representative of my fellow citizens and my generation, but in Friday’s vote I will not cast a vote of confidence in your government.”

This has dropped Papandreou’s support to 151 favouring votes from his party of 300 members.

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Posted by Samer Ahmed on Nov 3 2011. Filed under World. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry