Greek PM Sees Yes Vote In Referendum
fxbom.com
09:46 AM
CANNES — Greek Prime Minister George Papandreou said Tuesday he is confident Greeks will vote “yes” for the country to continue being part of the euro zone in a referendum on Dec 4, and to accept further austerity measures.
“The Greek people are wise and capable of making the right decisions for the benefit of our country,” Papandreou said. “A positive decision by the Greek people is not only a positive decision for Greece, it is a positive decision for Europe … I want to say that we will have a yes (vote) in the referendum.
Papandreou was speaking to reporters after a meeting with German Chancellor Angela Merkel, French President Nicolas Sarkozy and International Monetary Fund Managing Director Christine Lagarde.
People with knowledge of the meeting said Merkel and Sarkozy pressed Papandreou to hold the referendum early in December rather than in January as originally planned.
Papandreou’s decision Monday to call the referendum stunned markets as it threw into doubt a plan by the euro zone to contain its debt crisis.
It also angered euro-zone partners and the IMF, resulting in the delay of the disbursement of an EUR8 billion loan slice.
Papandreou said the decision on Oct 27 to cut Greece’s debt held by private creditors by half was positive but disputed by many in Greece. He said holding the referendum December 4 will also allow Greece to stay on track in receiving aid from its euro-zone peers, and therefore avoid defaulting on its debt repayments.
“I felt that it was important the Greek people make a decision on these important developments and the decisions that were made. It’s their democratic right,” he said.
-By Costas Paris and William Horobin, Dow Jones Newswires; + 44 207842 9364 , +44 7876577160 ; costas.paris@dowjones.com
-Ira Iosebashvili contributed to this story
Related posts:
- Resign Prime Minister George Papandreou, Greek Political Situation Still Blur
- The Euro Was Under Pressure after the Greek Relief Pending Before Referendum
- PM Says Some Greek Banks May Have To Be Nationalized
- Euro Zone Seeks Written Pledge From Greek Politicians
- Eurogroup Juncker: Can’t Rule Out Selective Default In New Greek Bailout
