Government looks precarious as confidence vote approaches
A spate of resignations from the ruling Panhellenic Socialist Movement (PASOK) has made the possibility of the confidence vote today leading to fresh elections.
On Tuesday afternoon George Lianis resigned from the party and this was followed yesterday with two more resignations. Two senior MPs, Yiorgos Floridis a former minister and Ectoras Nasiokas both resigned yesterday.
The defections leave PASOK precariously close to losing its parliamentary majority at a time when both the main opposition New Democracy (ND) and Communist Party of Greece (KKE) have called for elections.
The fate of beleaguered prime minister George Papandreou was not made any easier yesterday by a fall in stock markets across the world as they panicked over the prospect of a default in Greek sovereign debt. Whilst the EU has withheld further funds, the IMF decided to go ahead with the release of further loans.