The Executive Cabinet led by Prime Minister George Papandreou of Greece received a vote of confidence Friday from the Greek Parliament, managing to avoid undermining international rescue package of Greece and accelerating tensions in the euro area, writes Reuters. Papandreou’s Socialist government received a vote of confidence from all members of his political party, under the 300 members of Parliament, but his position as prime minister does not seem to have long life.
The vote was announced around 11:00 (GMT), after a process that lasted several hours in Athens parliament. In a speech in front of the members of parliament, Greek Prime Minister called the election of a new coalition government to adopt the rescue plan of 130 billion euros for Greece and suggested that he would resign.
Chairman of the meeting, Filippos Petsalnikos announced on Greek television station, Vouli TV, that of the 300 MPs present, 153 voted “for” and 145 voted “against”. According to Reuters, some sources said that Papandreou could resign in favor of the Minister for Finance, Evangelos Venizelos, in return for parliamentary approval of the plan to rescue Greece. Papandreou will meet on Saturday for lunch with the President of Greece to discuss the composition of a new coalition government very likely not headed by him.
George Papandreou called for a vote of confidence Monday, after he announced his intention to call a referendum on the rescue plan, which was abandoned after three days due to the panic in financial markets and pressures from other European leaders. Greek Prime Minister requested during the parliamentary debate on Friday night, forming a “broad” coalition government to provide support for European agreement for Greece’s debt relief, stating that “it requires a greater and honest support”. Papandreou said that he would go on Saturday to speak with the Greek President, Karolos Papoulias, on forming the coalition government, adding that he would be willing to discuss who will lead the coalition.