Papandreou to Resign If He Wins Confidence Vote

CNBC

Greek Prime Minister George Papandreou has struck a deal with ministers to step down and hand power to a negotiated coalition government if they help him win a confidence vote on Friday, government sources with knowledge of a cabinet meeting said.

They said the ministers involved in the deal were led by Finance Minister Evangelos Venizelos.

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

The source said Papandreou admitted he had made a mistake in calling on Monday for a referendum on a bailout package agreed with the European Union last week. German and French leaders summoned him to a meeting in Cannes on Wednesday where they demanded Greece keep to the deal or risk exclusion from the euro zone.

"Venizelos told him he must make a graceful exit both for his sake and for the party's sake and that the ministers would help him do it," the source said. "This is provided he survives the confidence vote, which is not at all certain."

A minister present at the meeting said Papandreou agreed to step down after he had forged a coalition with the conservative New Democracy party.

Not gonna solve squat but nontheless, Papandreou would probably be better off out and not in headshot reach of an increasingly belligerent Greek public.

Sources at New Democracy said they envisaged a non-political government that will rule for one month to six weeks and Papandreou's resignation was a key condition.

"We don't want to even have our own people in this government. In fact it would be best if it was completely non-political," a senior ND official said.

A non-political party to rule for one to six weeks? Who's that, the military? It's gonna be another Egypt in Greece soon the way these loons are running things.

That is a pretty drastic reversal from his original statements. Wonder what he was threatened with? Looks like the Greek are about to get royally screwed.

I wonder what the PEOPLE want to do......
How bout have a referendum to have a referendum....?