Papandreou Could Resign Any Time Sunday

Greek PM George Papandreou has said he is ready to step down. Photo by BGNES

Greek PM George Papandreou might resign before the end of Sunday, as coalition talks among parties have been hurried to form a new cabinet.

Thursday Papandreou agreed to resign when parliamentary parties reach an agreement on the composition of an interim cabinet to implement the second international rescue plan for Greece.

Sunday both the opposition New Democracy and the PM's own PASOK have renewed calls for him to step down.

Meanwhile Sunday evening a PASOK representative has stated that talks have achieved progess and a resolution is imminent.

The New Democracy party, headed by Andonis Samaras, has this far been rejecting the option of a coalition cabinet, and has been calling for early elections instead.

The events were precipitated by an announcement on Papandreou's part that he was going to initiate a referendum on the Greek debt rescue plan, as austerity measures have been met with persistent popular protest.

The option of a referendum send shockwaves of doubt about the outcome of the financial crisis in Greece and was met with strong displeasure by EU leaders.

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