Sketchy coalition deal sealed by Greece

Sketchy coalition deal sealed by Greece

George Papandreou, the Prime Minister of Greece, has sealed a deal with the opposition on a crisis coalition to approve an international bailout.

The Greek PM, however, ensured that details remain thin despite an EU ultimatum for Athens to get serious about tackling its huge problems.

From news.yahoo.com:

With Greece due to run out of money in a few weeks, the European Union told its bickering parties to explain by Monday evening how they would form a unity government to enact the 130 billion euro (£111.7 billion) emergency funding package.

Papandreou, who sealed his fate last week with a disastrous attempt to call a referendum on the bailout, will stand down when the new government takes over, the office of the Greek president said.

“We have called for a national unity government and remain persuaded that it is the convincing way of restoring confidence and meeting the commitments,” European Economic and Monetary Affairs Commissioner Olli Rehn told Reuters. “We need a convincing report on this by Finance Minister Venizelos tomorrow in the Eurogroup.”

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