Papandreou Said to Offer to Quit in Favor of Forming Greek Unity Cabinet

Greek Prime Minister George Papandreou offered to step aside to permit the formation of a unity government, as long as all opposition parties agreed to cuts required by an international bailout, said a person with direct knowledge of the matter.

Papandreou’s bid, coming amid mounting opposition and defections among allies, countered a demand by the New Democracy opposition party that he quit and that a cross-party coalition renegotiate the terms of the rescue.

To contact the reporters on this story: Maria Petrakis at mpetrakis@bloomberg.net; Natalie Weeks in Athens at nweeks2@bloomberg.net

To contact the editors responsible for this story: James Hertling at jhertling@bloomberg.net

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.