Home / Market Beat / Greek PM to step down. Bailout to be approved.

Greek PM to step down. Bailout to be approved.

Greece is headed to form a new unity government to approve the bailout, even as its PM is stepping down. Asian markets have fallen in the wake of the uncertainty that still looms over the troubled European nation.

On Sunday, the struggling nation Greece had a historic turn of events. Greek politicians have agreed on to form a unity government which will approve the much required Eurozone bailout. This comes in wake of the Prime Minister George Papandreou announcing that he is stepping down, despite winning the confidence vote in the Greek parliament on Saturday.

Reports have also indicated that the discussions on who will be heading the new government in Greece would happen on Monday. Earlier the European Union gave Greece 24 hours to show how it would be enacting its 130 billion euro emergency funding package.



Related Videos