Greek Prime Minister George Papandreou’s proposal for a national referendum on the bailout may be derailed as his party fights opposition from within. Party members have abandoned him in light of the announcement. Finance minister Evangelos Venizelos condemned the move, saying Greece’s use of the euro “cannot depend on a referendum.”
Papandreou will face a confidence vote Friday, and will step down as PM if he loses. In the event of that, the referendum scheduled for Dec. 4 will not happen. In light of Papandreou’s proposal, French and German leaders have begun contingency plans in case Greece drops out of the Euro. They announced no more aid would be given to Greece until the referendum’s outcome is known. Greek finance officials have said the country will run out of money by mid-November if they do not receive additional funds.
