Greek Prime Minister George Papandreou arrives for a cabinet meeting in Athens last night. Picture: AFP Source: AFP
Greek Prime Minister George Papandreou cancels bailout referendum after ministerial revolt
PETER WILSON, CANNES From:The Australian November 04, 2011 2:36AM
THE GREEK government has backed down from a controversial referendum proposal after an unprecedented threat by European leaders to dump Greece from the eurozone and the entire EU.
Prime Minister George Papandreou was forced to abandon his plan for a referendum on the latest euro bailout deal after the leaders of France, Germany and other major European nations meeting in Cannes warned they were prepared to bankrupt Greece unless it stuck to the bailout agreed last week.