05 November, 2011

CNN Breaking News

Greek Prime Minister George Papandreou survives a confidence vote after days of turmoil sparked by his proposal to hold a referendum on a bailout for his country.

Having backed off the referendum plan, Papandreou announced just before the confidence vote he would seek a coalition government.

Political instability in Greece has caused political and financial jitters throughout Europe and beyond, as world leaders met in France for the G-20 economic summit with concerns that Greece's woes could spread to major European economies.

President Barack Obama told the summit that events in Greece underscore the importance of implementing a Greek economic bailout plan fully and quickly.

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