Wednesday, November 2, 2011

Greek Premier Likely To Win Confidence Vote

Wall Street Journal
November 2, 2011

Greek lawmakers began debating a confidence vote in the government Wednesday in a test Prime Minister George Papandreou is likely to pass despite strong reservations about a controversial referendum on the country's latest bailout.

In a bid to shore up flagging support within his Socialist party, or Pasok, Mr. Papandreou called for a fresh vote of confidence along with a referendum on a €130 billion aid deal hammered out by European leaders in Brussels last week.

The move is seen as a high-stakes gamble aimed at quelling a public backlash against controversial austerity policies but at the risk of derailing plans aimed at solving the euro zone's debt crisis.

Parliament is expected to hold this latest confidence vote at midnight Friday, following three days of debate. It will be the second such vote for Mr. Papandreou after narrowly winning a mandate in June.

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