Greece to vote on euro membership / EU suspends €8bn in Greek aid

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Series Details 3.11.11
Publication Date 03/11/2011
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Article reports that sources close to the ruling Pasok Socialist Party told the Financial Times on the 2 November 2011 that voters in Greece would be asked not to approve or reject the terms for Greece’s next financial rescue but to vote on a broader question in a referendum called by Greek Prime Minister George Papandreou on the 31 October 2011 centred on support for Greece’s membership of the European Union and 17-nation eurozone.

France and Germany made this demand to Mr Papandreou when they met him at a pre-G20 Summit meeting in Cannes on the 2 November 2011. However, Greece's Finance Minister Evangelos Venizelos said the planned referendum on its latest bailout package must not be about the country's future in the eurozone.

European leaders threatened to cut off an already overdue tranche of €8bn in international aid to Greece as they piled pressure on Athens over its plan to hold the referendum

French Prime Minister Francois Fillon, told the French parliament on the 2 November 2011: 'Europe cannot be kept waiting for weeks for the outcome of the referendum. The Greeks must say quickly and without ambiguity whether they choose to keep their place in the euro zone or not'.

The issue of Greece was set to take over the agenda of the G20 Summit to be held in Cannes, 3-4 November 2011.

Related Links
EUObserver, 2.11.11: Brussels issues 'urgent appeal' for Greek unity http://euobserver.com/19/114143
ESO: Background information: Greece calls referendum on EU bail-out / Greeks hostile as EU ‘task force’ starts work / EU leaders battle to save Greece deal http://www.europeansources.info/record/greece-calls-referendum-on-eu-bail-out-greeks-hostile-as-eu-task-force-starts-work-eu-leaders-battle-to-save-greece-deal/
European Commission; RAPID: MEMO/11/758: President Barroso appeals for national and political unity in Greece http://europa.eu/rapid/pressReleasesAction.do?reference=MEMO/11/758&format=PDF&aged=0&language=EN&guiLanguage=en
Kathimerini, 2.11.11: France, Germany demand Greece decision on euro http://www.ekathimerini.com/4dcgi/_w_articles_wsite1_24640_02/11/2011_412938
EUObserver, 3.11.11: Papandreou ready to step down, ECB man likely to replace him http://euobserver.com/19/114164
BBC News, 3.11.11: Greek crisis: Calls for Papandreou to resign http://www.bbc.co.uk/news/world-15575198
Le Figaro, 4.11.11: And if Greece goes... (Via PressEurop) http://www.presseurop.eu/en/content/article/1137811-and-if-greece-goes
Spiegel Online International, 2.11.11: 'The Euro Zone Could Face Ruin' http://www.spiegel.de/international/europe/0,1518,795514,00.html
EUObserver, 2.11.11: €8bn Greek payment on ice until referendum http://euobserver.com/9/114147
IMF: Greece and IMF http://www.imf.org/external/country/GRC/index.htm
Deutsche Welle, 3.11.11: Papandreou reconsiders referendum on bailout deal http://www.dw-world.de/dw/article/0,,15508183,00.html
EurActiv, 3.11.11: Papandreou hard-pressed over euro referendum http://www.euractiv.com/euro-finance/papandreou-hard-pressed-euro-ref-news-508709
EUObserver, 3.11.11: EU tells Greece: Choose the euro or go http://euobserver.com/19/114155
Die Presse, 3.11.11: May God defend the EU’s heretics (via PressEurop) http://www.presseurop.eu/en/content/article/1132651-may-god-defend-eu-s-heretics
BBC News, 2.11.11: Pressure on Greece ahead of G20 http://www.bbc.co.uk/news/business-15550422
Deutsche Welle, 2.11.11: Crisis mode in Cannes as Greece upsets the G20 applecart http://www.dw-world.de/dw/article/0,,15507077,00.html
France24, 2.11.11: Greek PM headed for pre-G20 crisis talks over bailout referendum http://www.france24.com/en/20111102-EU-greece-papandreou-merkel-sarkozy-g20-crisis-talks-bailout-referendum
Spiegel Online International, 2.11.11: Greek Exit From Euro Zone Just a 'Matter of Time' http://www.spiegel.de/international/europe/0,1518,795426,00.html
BBC News, 3.11.11: Greece split over euro referendum http://www.bbc.co.uk/news/business-15567822
Deutsche Welle, 2.11.11: German minister says no going back on Greek bailout http://www.dw-world.de/dw/article/0,,15504856,00.html
Kathimerini, 3.11.11: Eurozone watches as Greece heads for Dec 4 vote http://www.ekathimerini.com/4dcgi/_w_articles_wsite1_18661_03/11/2011_412993
Kathimerini, 3.11.11: Venizelos breaks ranks, challenges euro referendum http://www.ekathimerini.com/4dcgi/_w_articles_wsite1_1_03/11/2011_413004

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