Papandreou Confidence Vote May Decide Greek Fate

Negative vote could lead to elections, renegotiation of financing package.

Greek Prime Minister George Papandreou faces a confidence vote in his government today that may determine whether Greece becomes the first euro-area country to default.

Tonight’s vote caps a week of turmoil for Papandreou, who fended off a revolt from the ranks of his ruling socialist Pasok party in parliament last week. That came after opposition parties rejected his call for a national unity government. European Union leaders have insisted Papandreou secure multi-party support for austerity measures that are a condition of the aid needed to avoid default as soon as next month. A vote on the fiscal plan is due next week.

Copyright 2016 Bloomberg. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.


Advertisement. Closing in 15 seconds.