Greece to hold referendum on new debt deal
Athens: Greece`s Prime Minister George Papandreou on Monday said his troubled country will hold a referendum on a new European debt deal reached last week — gambling on a hard-bargained agreement that took months to hammer out.
Papandreou appeared to take many lawmakers by surprise with the announcement. He gave no date or other details on the proposed referendum, which would be the first in Greece since 1974, when the monarchy was abolished by a landslide vote held months after the collapse of a military dictatorship.
"This will be the referendum: The citizen will be called upon to say a big `yes` or a big `no` to the new loan arrangement," Papandreou told Socialist members of Parliament.
"This is a supreme act of democracy and of patriotism for the people to make their own decision ... We have a duty to promote the role and the responsibility of the citizen."
The new deal aims to seek 50 percent losses for private holders of Greek bonds and provide the troubled eurozone member with EUR 100 billion (USD 140 billion) in additional rescue loans.
Papandreou`s government has seen its majority reduced to just three seats in parliament and its approval ratings plummet amid harsh austerity measures that are likely to send the country into a fourth year of recession in 2012.
More from India
More from World
More from Sports
More from Entertaiment
- Delhi Police arrests AAP MLA in the middle of press conference
- Pak grants 91-year-old Indian's last wish - a trip to his ‘ancestral home’
- Bihar: Acid attack on girl in Aurangabad district, victim critical
- MP: Dalit families migrating from village due to hooligans
- Is there any political clash between Akhilesh Yadav and Shivpal Yadav?
- Germany says 'won`t let anyone take Europe from us'
- High-tech scans can spare cancer patients from intensive chemotherapy: Study
- Britain pressured for quick EU split as Brexit impact begins
- Debris in Tanzania to be examined for link to missing MH370: Report
- Religious tensions bristle in Myanmar village after mosque destroyed