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Greece likely to hold referendum in early December

November 03, 2011, 3:06 UTC+3
At a joint conference with German Chancellor Angela Markel Sarkozy said Papandreou assured them the referendum may be held around December 4-5
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CANNES, November 3 (Itar-Tass) —— Greece plans to hold a referendum on EU/IMF bailout in early December, French President Nicolas Sarkozy told a press conference on Thursday after senior European leaders urgently met Greek Prime Minister George Papandreou on the eve of the G-20 summit.

At a joint conference with German Chancellor Angela Markel Sarkozy said Papandreou assured them the referendum may be held around December 4-5.

The surprise Greek move to call a referendum put into doubt the bailout plan designed to resolve the public debt problem of the euro zone member. France and Germany said they would push Greece to a rapid implementation of the agreed measures.

Sarkozy said that if a referendum is held, it should be on whether Greece stays in the euro zone or leaves. Europe could not endure a long period of uncertainty, he added.

“Our Greek friends must decide whether they want to continue the journey with us”, Sarkozy said adding Greece will receive no more European bailout aid until it has put an end to uncertainty and agreed to meet its commitments to the euro zone.

Papandreou stunned EU partners by announcing on Monday he would call a referendum on a 130 billion euro ($178 billion) bailout plan he agreed with euro zone leaders last week.

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