Greek cabinet backs George Papandreou’s referendum plan

Greece’s cabinet has given unanimous backing to a controversial plan by PM George Papandreou to hold a referendum on a EU debt rescue package.

He told an emergency cabinet meeting that a referendum would offer “a clear mandate” for austerity measures demanded by other eurozone members.

Stock markets recorded big drops amid shocked reactions in eurozone capitals to the referendum announcement.

Check Also

Five Things Kosovo Must Know Before Doing a Deal with Serbia

Following the election of the new government in Kosovo, the US special presidential envoy for …