Greek Prime Minister George Papandreou will step down, provided Greece approves to the 130 billion euro bailout deal. Papandreou will meet Monday with Antonis Samaras, leader of the New Democratic Party and main opposition party, to discuss who will become the next prime minister. National elections would be held after implementation of the bailout. The bailout deal would wipe out half of Greek debt, amounting to 100 billion euros.
Eurozone finance ministers will meet Monday in Brussels, Belgium to discuss options. If Papandreou steps down, the new government would have a life of four months, until elections in the spring. Candidates for the prime minister position include Petros Moliviatis and Loukas Papaimos.
