Papandreou Faces Revolt; Greece Faces Dismissal From Euro

Greek Prime Minister faced an open revolt during an emergency cabinet meeting last night as several members of his government threatened to side with the opposition for tomorrow’s confidence vote. Greece’s continued participation within the Eurozone became even more tenuous as several Eurozone leaders suggested that forcing Greece to exit the Eurozone may be the best approach for saving the single currency.

French President Nicolas Sarkozy and German Chancellor Angela Merkel told Papandreou at a torrid meeting in Cannes on Wednesday night that Athens would not receive a cent more in aid until it votes to meet its commitments to the euro zone. Greece was due a vital 8 billion euros installment this month.

Source: Reuters

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