Greece drops referendum

Opposition will back bail-out fund

Greek Prime Minister George Papandreou has dropped plans on Thursday evening to hold a referendum on his country’s future in the eurozone, the New York Times reports. The PM said he no longer saw the need for a popular consultation now that the opposition has said that it supports accepting emergency funds from eurozone countries and the International Monetary Fund. Several commentators are suggesting the referendum was a daring an astute political manoeuvre by Papandreou to force his political enemies to admit Greece has no alternative but say yes to the bail-out.

The New York Times

Looking for more?

Get the best of Maclean's sent straight to your inbox. Sign up for news, commentary and analysis.