Greek Prime Minister George Papandreou mentioned that a referendum on the latest euro area bailout package will determine the future of his country in the euro.
Papandreou said the referendum will be a clear mandate and strong message within and outside Greece on our European course and our participation in the euro, revealing that the dilemma isn't ‘this or another government, the dilemma is ‘yes or no to the loan accord. amid signs his government may collapse as a vote of confidence on Parliament starts today with results declared by the end of the week.
Before the G-20 meeting on November 3-4, Papandreou will meet with European leaders today to discuss his decision.
In the case that No won in the referendum, the debt-laden economy would be prone to a disorderly defaultwhich might end its membership in the euro.