ATHENS ? Greece formally notified European Union officials Friday that it would not hold a referendum on a critical bailout plan, and the country?s finance minister hinted that the government would reach out to the main opposition party after a scheduled confidence vote over embattled Prime Minister George Papandreou.
Finance minister Evangelos Venizelos said that the governing Socialist party wanted to push forward with ?the broadest�possible consensus? as Greece tries to steer its way through the current financial crisis.
As world leaders convene in France for the annual G20 summit, plans to end Europe's financial crisis have been riding the tumultuous waves of Greek politics. (Nov. 3)
A finance ministry statement said there had been a ?decision to not hold a referendum,? which Venizelos had communicated in phone calls to�top European Union officials and to German Finance Minister Wolfgang Schaeuble.
Weary Greeks looked ahead at a long day of political wrangling before the confidence vote, which will determine whether Papandreou remains their leader.
The vote, which will take place in Parliament in the evening, is far from assured. Papandreou?s decision Thursday to back away from the proposed referendum removed a significant obstacle that had rattled global markets and imperiled plans to halt a spreading economic crisis. But it came only after much of his already-wobbling support had washed away.
Greek politicians coalesced around the rescue deal for the first time on Thursday, after the opposition dropped its objections. But the plans still require Parliament?s approval, and politicians remained at odds over whether Papandreou would stay or go. The opposition has called for elections by the end of the year, which Papandreou opposes, suggesting that the deal could still fall apart.
On Friday, several senior officials from Papandreou?s Socialist party said that if the prime minister survives the confidence vote, they would call for elections in three or four months, after the immediate uncertainty about Greece?s bankruptcy is resolved.
Greece appears far more likely to participate in the bailout than it did just days ago,�when the prospect of a December referendum meant uncertainty lingering for weeks. Now, European leaders can move on to other pressing issues, such as how to bolster Europe?s bailout fund to guard against shakiness in Italy and Spain.
But the political instability within Greece could still delay the precise contours of the plans. If Papandreou loses the vote Friday night ? a distinct possibility, since Socialists controls only 152 of the 300 seats of Parliament, and one Socialist deputy has already sad she would vote against him ? the prime minister would likely be forced to step down in favor of a caretaker government, with elections following shortly thereafter.
On Friday, several Socialists indicated that their support for Papandreou came with the caveat that new elections must be held early next year. Three or four months would give Greece time to ?rationalize the situation, restore calm to the country, get rid of that 100 billion euro debt and build international credibility,? said the Socialists? chief whip, Christos Protopappas, on state radio. ?Then we can get back at each others? throats? for the elections.
Source: http://feeds.washingtonpost.com/click.phdo?i=12832e8c1a5506fdd0ea9802b6e11f00
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