Unity government for Greece

GREEK Prime Minister George Papandreou agreed to step down as premier to allow the creation of a national unity government that will secure international financing for the country and avert a default.

Papandreou met with Antonis Samaras, the leader of the main opposition party, and “agreed to form a new government with the aim of leading the country to elections immediately after the implementation of European Council decisions on October 26,” according to a statement from the office of President Karolos Papoulias. Papandreou has already said he won’t lead this new government, the statement said.

Both sides will meet again today to decide who will be the head of the new government with a separate meeting to discuss the timeframe and the new government’s mandate, the statement said. Papoulias will host a meeting of all political party leaders today as well.