Leaders of France, Germany to meet Papandreou

The leaders of France and Germany will try to persuade Greece's prime minister to accept the rescue package for the country agreed upon by EU leaders last week.

French President Nicolas Sarkozy and German Chancellor Angela Markel will have an emergency meeting with Greek Prime Minister George Papandreou on Wednesday in Cannes, France.

The EU had originally planned to discuss rescue measures for Greece at the G20 summit, which begins in Cannes on Thursday, and to gain the understanding and cooperation of other countries.

The EU compiled a comprehensive bailout plan for Greece last week in an effort to end Europe's credit worries.

The plan focuses on reducing Greece's debts, on the condition that the country takes austerity measures.

But Papandreou suddenly announced on Monday a plan to hold a referendum on the EU proposal. The Greek cabinet approved the referendum on Tuesday.

But opposition parties have opposed the referendum, demanding a general election.

It is unclear whether Papandreou's government will survive a vote of confidence in parliament on Friday, which he scheduled ahead of the referendum.

Wednesday, November 02, 2011 19:53 +0900 (JST)