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Greek Government to Collapse?

November 1, 2011 By: Jena Tesse Fox

The New York Times is reporting that Greece's government was plunged into chaos on Tuesday and faced an imminent collapse, as lawmakers rebelled against Prime Minister George Papandreou’s call for a popular referendum on a new debt deal with the country’s foreign lenders.

Such a collapse would likely scuttle or at least delay the debt deal that was agreed on in Brussels last week, putting Greece on a fast track to default and possible exit from the monetary union of countries sharing the euro currency.

If Papandreou’s government falls, it would not be the first one in Europe to be toppled by the austerity demanded by European debt relief. In Ireland and Portugal, governments that accepted bailouts from the European Union and the International Monetary Fund fell, and last month the Slovakian government fell over whether to participate in the European Union’s rescue package.

Keep visiting for further updates on this developing story.

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About the Author

Jena Tesse Fox
Jena Tesse Fox covers Europe, Africa, Australia/South Pacific and business travel for the Questex Travel Group's publications. The daughter of history teachers, she can spend...

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By Jena Tesse Fox | November 1, 2011
Greece's government was plunged into chaos on Tuesday and faced an imminent collapse.
Filed under : Greece