Greece’s prime minister survives confidence vote

November 5, 2011 • Business

Greek Prime Minister George Papandreou, far right, and his cabinet applaud after confidence vote at the parliament in Athens, early Saturday, Nov. 5, 2011. Greece’s prime minister has survived a confidence vote in parliament, calming a revolt in his Socialist party with a pledge to seek an interim government that would secure a vital new European debt deal. (AP Photo/Thanassis Stavrakis)

ATHENS, Greece (AP) — Greek Prime Minister George Papandreou survived a confidence vote early Saturday, calming a vicious revolt in his Socialist party with an emotional pledge to step aside if necessary and seek a cross-party government lasting four months to safeguard a new European debt agreement.

Papandreou won the critical parliamentary confidence motion 153-145 after a week of drama in Athens that horrified Greece’s European partners, spooked global markets and overshadowed the Group of 20 summit in the French resort of Cannes.

The threat of a Greek default or exit from the common euro currency has worsened the continent’s debt crisis, which is already struggling under bailouts for Greece, Ireland and Portugal.

Finance Minister Evangelos Venizelos, who warned that the debt-ridden country still faced “mortal danger,” Login to read more

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