Greek PM may be required to resign

Note: This section contains information in English only.
Source: Reuters
Greek PM George Papandreou faced a severe opposition when trying to propose referendum on EU debt crisis plan. Four ministers including Finance Minister Evangelos Venizelos voted against referendum.  According to EU officials, Greece will not have access to bailout funding until it approves the agreement. George Papandreou has received requests from his own party members to resign.

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Thu, 03 Nov 2011 17:00:29 GMT

ECB lowers interest rates

European Central Bank (ECB) has unpredictably lowered the interest rate from 1.5% to 1.25%. According to ECB president Mario Draghi, several predictions regarding economic growth in 2012 have been revised downwards and therefore initiated interest rate cut.  Draghi characterized eurozone as a highly uncertain economic environment facing many challenges that can hinder economic growth. 

Thu, 03 Nov 2011 16:32:58 GMT

Question on Greek referendum remains open

Greece Prime Minister and the referendum initiator George Papandreou said on Thursday that nations' opinion is required as alternative in case the strong opposition in Greek parliament will not back the bailout package agreed earlier. He stated that if the opposition will support tough bailout requirements, the referendum is not a necessity.  

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