Wednesday, November 9, 2011

Greek Unity Deal in Disarray Amid Squabbles

Bloomberg
November 9, 2011

Greek Prime Minister George Papandreou’s drive to put together a unity government descended into disarray as rival parties fell to squabbling over the next premier, undermining their bid to secure bailout funds needed to prevent a financial collapse.

Papandreou met with President Karolos Papoulias in Athens today to resign as criticism grew over delays in naming a new prime minister. Papandreou attended the meeting with Antonis Samaras, leader of the opposition New Democracy party, and opposition LAOS party leader George Karatzaferis, who then abandoned the talks.

“Despite our differences we leave clashes and sterile opposition to one side,” Papandreou said in an address to the nation televised live on state-run NET TV.

Papandreou didn’t name a new prime minister in his speech. Greece’s two biggest political parties agreed to name parliament speaker Filippos Petsalnikos to head the government rather than former European Central Bank Vice President Lucas Papademos, To Vima newspaper reported, without saying how it got the information.

President Papoulias called a meeting for 10 a.m. local time tomorrow with political party leaders. No official announcement was made on who will staff the new government and Papandreou has not formally resigned.

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