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GERMANY WARNS GREECE OVER RESCUE
ARMENPRESS
16:31, 2 November, 2011
The eurozone plan to save Greece from bankruptcy is not up for
renegotiation, Germany has warned, ahead of emergency talks with
Greece and France.
"[What] we just agreed last week cannot be placed back on the table,"
Foreign Minister Guido Westerwelle said.
Greek PM George Papandreou is to meet France's Nicolas Sarkozy and
Germany's Angela Merkel later on Thursday.
The meetings come a day after Mr Papandreou said Greece would hold
a referendum on the eurozone rescue plan.
Overnight, Greece's cabinet gave unanimous backing to Mr Papandreou's
controverisial plan for a public vote, which could take place in
December.
He told an emergency cabinet meeting a referendum would offer "a
clear mandate" for austerity measures demanded by eurozone partners.
Earlier, stock markets recorded big drops amid shocked reactions in
eurozone capitals to the referendum announcement.
BBC diplomatic correspondent James Robbins, in Cannes for the G20,
says the summit of global leaders has been thrown into confusion
before it even opens.
President Sarkozy had thought the priority would be presenting to
the wider world a done deal for the Eurozone rescue and asking for
active international support, particularly from China.
But instead, Mr Papandreou's move has left Mr Sarkozy, and German
Chancellor Angela Merkel appalled by the uncertainty, and the damage
already done, our correspondent says.
Mr Papandreou is expected to say that he had no choice: a referendum
was vital to try to overcome resistance on the streets to deepening
cuts - and a possible alternative of snap elections would risk Greece
defaulting on its debt.
Furthermore, the Greek government faces a crucial confidence vote in
parliament on Friday.
One MP from the governing Pasok party has resigned, cutting Mr
Papandreou's parliamentary majority to two - and six other leading
party members have called on him to resign.
The planned referendum threatens to unravel a deal reached at a EU
summit last week aimed at resolving the euro debt crisis.
Leaders agreed on a 100bn-euro loan (£86bn; $140bn) to Athens and a
50% debt write-off.
But in return, Greece must make deep cuts in public spending, slashing
pensions and wages and making thousands of civil servants redundant.
There have been widespread protests in Greece against the measures.
ARMENPRESS
16:31, 2 November, 2011
The eurozone plan to save Greece from bankruptcy is not up for
renegotiation, Germany has warned, ahead of emergency talks with
Greece and France.
"[What] we just agreed last week cannot be placed back on the table,"
Foreign Minister Guido Westerwelle said.
Greek PM George Papandreou is to meet France's Nicolas Sarkozy and
Germany's Angela Merkel later on Thursday.
The meetings come a day after Mr Papandreou said Greece would hold
a referendum on the eurozone rescue plan.
Overnight, Greece's cabinet gave unanimous backing to Mr Papandreou's
controverisial plan for a public vote, which could take place in
December.
He told an emergency cabinet meeting a referendum would offer "a
clear mandate" for austerity measures demanded by eurozone partners.
Earlier, stock markets recorded big drops amid shocked reactions in
eurozone capitals to the referendum announcement.
BBC diplomatic correspondent James Robbins, in Cannes for the G20,
says the summit of global leaders has been thrown into confusion
before it even opens.
President Sarkozy had thought the priority would be presenting to
the wider world a done deal for the Eurozone rescue and asking for
active international support, particularly from China.
But instead, Mr Papandreou's move has left Mr Sarkozy, and German
Chancellor Angela Merkel appalled by the uncertainty, and the damage
already done, our correspondent says.
Mr Papandreou is expected to say that he had no choice: a referendum
was vital to try to overcome resistance on the streets to deepening
cuts - and a possible alternative of snap elections would risk Greece
defaulting on its debt.
Furthermore, the Greek government faces a crucial confidence vote in
parliament on Friday.
One MP from the governing Pasok party has resigned, cutting Mr
Papandreou's parliamentary majority to two - and six other leading
party members have called on him to resign.
The planned referendum threatens to unravel a deal reached at a EU
summit last week aimed at resolving the euro debt crisis.
Leaders agreed on a 100bn-euro loan (£86bn; $140bn) to Athens and a
50% debt write-off.
But in return, Greece must make deep cuts in public spending, slashing
pensions and wages and making thousands of civil servants redundant.
There have been widespread protests in Greece against the measures.