ibnlive » World

Greek PM Papandreou wins confidence vote

Reuters
Nov 05, 2011 at 12:21pm IST

Athens: Greek Prime Minister George Papandreou won a parliamentary confidence vote on Saturday, avoiding snap elections which would have torpedoed Greece's bailout deal and inflamed the euro zone's economic crisis.

Papandreou's socialist government won with all his party lawmakers in the 300 member parliament supporting the government, but his term as prime minister appeared close to an end.

ALSO SEE Greek FM plans to forge coalition govt: sources

Earlier Papandreou called for a new coalition government to approve the 130 billion euro bailout deal which is vital for saving the country from bankruptcy and tackling the euro zone's economic crisis, and signalled he was ready to stand down.

Greek PM Papandreou wins confidence vote

This will avoid snap elections which would have inflamed the euro zone's economic crisis.

Papandreou told parliament before the vote that he would go to the Greek president on Saturday to discuss formation of a broader-based government that would secure the euro zone bailout, Greece's last financial lifeline, adding that he was willing to discuss who would head a new administration.

Latest

More from this section

PREVIOUS  Greek PM calls for coalition, signals may quit

NEXT  Pak envoy attends Indian Diwali reception in US