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Greek cabinet backs PM's referendum

2011-11-02 2 Dailymotion

Greek cabinet ministers, in an all night emergency meeting, say they will support the Prime Minister's call for a referendum on an EU debt bailout deal.<br/> George Papandreou's surprise announcement on Monday pummelled the euro and global stocks.<br/> Some of his party lawmakers called for him to quit for jeopardizing Greek euro membership.<br/> But the cabinet support gives him stay until a confidence vote in parliament on Friday.<br/> The referendum is expected to take place as soon as possible.<br/> Later, Papandreou will face leaders of France and Germany for crisis talks in Cannes, before the G20 summit.<br/> Whatever the result of the vote, Papandreou's gamble guarantees long weeks of uncertainty.<br/> This comes at a time when the 17-nation currency area was desperate for a period of calm to implement<br/> remedies agreed last week to overcome its sovereign debt crisis.<br/> Marie-Claire Fennessy, Reuters

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