Papandreou Agrees to Deal to Step Down

Greek Prime Minister George Papandreou has agreed to a deal to step down if certain circumstances are met.

Under an agreement with ministers, he has said he will step down and hand power over to a negotiated coalition government if he is granted asisstance with winning a confidence vote Friday, according to a Reuters report citing Greek government sources.

He was told that he must leave calmy in order to save his party, a source told Reuters. He agreed to step down. It was very civilized, with no acrimony.

The source told Reuters the Prime Minister admitted erring Monday by calling for a referendum vote on a rescue deal with the European Union, a call which he revoked Thursday afternoon.

The issue of Papandreou stepping down only applies if he wins the Friday confidence vote, which was by no means a foregone conclusion as of Thursday evening.

Papandreou representatives had not said as of Thursday evening that he plans to step down, and they declined to comment to Reuters.