Greek PM Seeks New Gov't after Winning Confidence Vote
Greece’s Prime Minister, fresh off a confidence vote victory, said Saturday he is seeking to form a national unity government that will allow the country to obtain a national bailout package before it runs out of funds.
Papandreou had previously canceled a public referendum that would have allowed Greeks to vote on whether or not to accept conditions of an aid package to ease the country’s debt burden while also reducing the nation’s public expenses.
Papandreou dropped the referendum after the conservative New Democracy Party said it would support the finance deal.
Papandreou won a confidence vote by the Greek parliament early Saturday after vowing that he would not stay on. He met with Greek President Karolos Papoulias to explore forming a transitional government.
Papandreou is seeking a “government of wider cooperation” that will pass the financial package, which “is a prerequisite for our remaining in the euro,” Papandreou told reporters on Saturday, according to Bloomberg.
The Greek Parliament voted 153 to 145 to give Papandreou a victory.
Greece is expected to receive $11 billion next month in aid. A lost confidence vote would have meant the need for a new government and a higher risk of Greece defaulting on its debt because of the lack of a bailout package.