Greek Govt Faces Collapse as More Ministers, MPs Turn on Papandreou

Greek Prime Minister George Papandreou gestures as he speaks to the press at the end of the emergency meeting in the new developments regarding the Greek financial crisis, one day before the start of the G-20 summit in Cannes, France, 02 November 2011.

Three more ministers from the Greek government have joined the finance minister in fiercely opposing the plan for a referendum on the EU bailout package.

Early on Thursday, Finance Minister Evangelos Venizelos spoke out publicly against the idea of a referendum. He is a longtime rival to Prime Minister Papandreou and a former Pasok leadership candidate.

Venizelos was followed by the deputy finance minister, the health minister and the development minister.

Meanwhile several Pasok MPs have called instead for a parliamentary vote on whether to accept the bailout terms, a government of national unity or early elections.

Another has called on Papandreou to resign, which has refused to do.

At least three governing party MPs say they will not back the government in Friday's confidence vote.

That deprives George Papandreou of a majority in parliament. If he cannot muster the support of enough opposition MPs, he will lose the vote, the government will collapse and early elections could be called.

The latest developments spell a period of intense political instability for Greece, which will aggravate the situation of the citizens, already hurt by financial woes.

On Wednesday, eurozone leaders withheld the latest EUR 8 B rescue loans for Greece until after its referendum on the package, which is expected to take place on 4 or 5 December.

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