CCTV.com - CNTV English - CCTV News

Consultations for new Greek coalition government to begin Monday

11-07-2011 09:15 BJT

ATHENS, Nov. 6 (Xinhua) -- Consultations for a new Greek coalition government are expected to begin on Monday, following an agreement reached by Prime Minister George Papandreou and main opposition leader Antonis Samaras earlier on Sunday, as Greece faces increasing agony to escape a possible default that threatens to destabilize the world economy.

According to an official statement by the Office of the President of the Greek Republic Karolos Papoulias, who hosted the meeting between the two leaders, Papandreou will leave his post and a new Prime Minister will be named on Monday.

Papandreou and Samaras are expected to meet again on Monday to discuss further details on the new government, which will lead Greece to national elections after the implementation of an October 26 EU plan to rescue Greece.

It is still unclear whether the new coalition government will be made up of technocrats, as demanded by New Democracy party leader Samaras, or political figures.

The Communist Party of Greece and the Coalition of the Radical Left (SYRIZA) announced that they will not participate in the new coalition government, nor in the relevant consultations.

Other parties represented in the Greek parliament have welcomed the agreement, but have not clarified if they would join the new government.

The agreement between Papandreou and Samaras came after a two-days long political crisis and continuous speculation on Papandreou' s real intentions following a confidence vote he won by 153/145 votes on Friday.

The crisis broke out as a result of European Union leaders' rejection of Papandreou' s plan to hold a referendum on the EU rescue plan.

The plan imposes tough austerity measures on the Greek government and runs into strong opposition from the Greek public.

European leaders feared the plan could be rejected by the Greek voters in a referendum and threatened to kick Greece out of the Eurozone if Papandreou didn't back off.

The referendum was cancelled on Thursday following angry reactions of Greece' s European partners.

Since May 2010 Greece relies heavily on an EU/International Monetary Fund aid package worth billions of euros to overcome the severe debt crisis.

Under the fresh EU plan, Greece will receive additional aid combined with a 50 percent "haircut" of the Greek debt with the voluntary participation of private holders of Greek bonds to make the burden on the country sustainable.

The agreement must be ratified by the Greek parliament in the coming weeks, along with the 2012 budget, before Greece will receive any more aid from international creditors.

Editor:Wang Xiaomei |Source: Xinhua

Hot Videos view more

The celebrations are still continuing as the victorious coach, Joachim Loew, has been honored for his achievement in his hometown of Freiburg.
Germany coach Loew honored in hometown of Freiburg

Chinese men´s national team continued its preparations for next year´s Asian Cup, as they managed a one-all draw against visitors Jordan during a football friendly in Harbin, the capital city of Northeast China´s Heilongjiang Province.
China held to 1-1 draw by Jordan

The defending world champs came into the contest with a perfect 6-and-oh record, but they would be in for a tough first half before opening things up in the second.
USA beat Slovenia 119-76 in quarter-finals

Hot Stories more

UK authorities believe killer of James Foley is a British national

Across the UK the hunt is on for James Foley’s killer, who authorities believe is a British national. As Richard Bestic reports from London, Prime Minister David Cameron cut short his summer break to lead his government’s response.

Israeli war jets renews Gaza strike as truce talks stalled

Three Palestinians were killed and 40 others wounded in the intensive Israeli war jets´ airstrikes on the Gaza city on Tuesday night, shortly before an end of a 24-hour ceasefire in the Gaza Strip,

Missouri police arrest dozens after violent night

As the protests in the town of Ferguson, Missouri turned violent with police facing ´heavy gunfire´ from some ´criminal elements´, cops fired tear gas, stun grenades and arrested 31 demonstrators on Monday night.

Picture in news more

More Video News

Choose TV Program