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Greek government teeters on brink of collapse

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Greek government teeters on brink of collapse


Greece has enough cash to last until mid-December, a government source says.

But will George Papandreou still be in power then, or even by the end of today?

Under pressure after calling a referendum on the country’s bailout deal, the prime minister is reportedly meeting the president after an emergency cabinet session. It comes as defeat in a parliamentary confidence vote looks increasingly likely amid a revolt within his ruling PASOK Socialist party.

Rebel PASOK MP Vasso Papandreou says the only way to save Greece from collapse is to form a national unity government aimed at saving the bailout deal. “Early elections should then be called immediately,” she said.

The leaders of France and Germany have made clear that Greece will receive no more European bailout aid until it has put an end to the uncertainty and agreed to meet its euro zone commitments.

Also read:
Debt crisis ‘worst since WWII’ says Trichet
Papandreou punt turns drama into crisis
Europe’s trillion euro debt plan

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