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Greek premier stands down from new unity government as Athens bows to EU pressure

UK Daily Mail [1]
November 7, 2011

Athens gave in to EU demands to instal a coalition government of ‘national salvation’ last night as uncertainty in debt-stricken Greece and Italy threatened fresh turmoil on financial markets.

Greece’s opposition had offered to form a national unity administration that would push through a controversial bailout – if prime minister George Papandreou stood aside.

Talks between Mr Papandreou, opposition leader Antonis Samaras and president Karolos Papoulias ended with an outline agreement on the formation of a coalition, with Mr Papandreou standing down

Further discussions are due to take place today to choose his successor. Front-runner Loukas Papademos comes with the Brussels seal of approval – as a former vice president of the European Central Bank.

Full article here [1]