Greek PM Future in Question after Debt Vote Fiasco

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Greek Prime Minister George Papandreou may lose his position after creating international turmoil over a Greek bailout deal hammered out last week by European leaders.

Papandreou shocked leaders and investors across the globe by calling for a referendum on the EU's plan to save his country from bankruptcy.
Stock markets plunged amidst fears Greece would be forced into a disorderly default.

Papandreou abandoned his call for a national vote on the bailout, easing investors' fears of a Greek debt default.
But now his government faces a no-confidence vote in the Greek parliament.

Should he lose the vote, Greece's already shaky economy could be plunged into further turmoil and an early election called.

Such a development could render Greece ineligible to receive the next installment of the bailout fund -- money the nation needs to avoid defaulting on its debt obligations.

Aware of that grim possibility, Greece's prime minister said he was open to a transitional government to carry the struggling nation through the rescue deal, Sky News reported.

"I don't care about being re-elected," Papandreou said. "I am interested in saving the country."

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