Greek PM wins confidence vote, pledges transition

November 5, 2011 • World News

Greek Prime Minister George Papandreou speaks during a confidence vote speech at the parliament in Athens, on Friday, Nov. 4, 2011. Greece’s embattled Socialist prime minister promised to start immediate powersharing talks to form a caretaker government, declaring his willingness to step aside if needed, but ruled out snap elections that he said would scuttle a major 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,” said the new government would last until the Login to read more

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