November 3, 2011 / 11:26 AM / in 6 years

Euro zone crisis - Nov 3 as it happens

Nov 3 (Reuters) - Here is a snapshot of the euro zone crisis
as G20 leaders meet in Cannes.	
    All times are GMT:	
    * 1423 --  Greek Prime Minister George Papandreou has no
plans to resign while he awaits the outcome of talks with the
opposition, a minister who took part in a cabinet meeting said.	
    * 1420 -- A proposed Greek referendum on the country's
bailout package will be scrapped if ruling and opposition
parties strike a deal to resolve the crisis, an official from
the prime minister's office said.	
    * 1405 -- Greece's government is ready to hold talks with
the opposition on its demand for a caretaker government until
snap elections are held, a government spokesman said.	
    * 1348 -- The Greek government welcomed the statement made
by the opposition leader and said it was ready to discuss the
proposal on a temporary government.	
    * 1342 -- The office of Greek President Karolos Papoulias
said it has no meeting scheduled with Prime Minister George
Papandreou as of now.	
    * 1325 -- Europe should not fear a change of government in
Greece, Michael Noonan, Ireland's finance minister said in
    * 1316 -- According to Spanish officials, the main focus of
EU discussion was strengthening firewalls to protect the euro
    * 1309 -- Papandreou has not offered his resignation, a
source at his office said.  	
    * 1305 -- A group of about 30 opposition and ruling party
lawmakers signed a letter demanding a new "national unity
government", and early elections held.	
    * 1245 -- ECB cuts interest rates by 25 basis points to 1.25
    * 1212 -- Antonis Samaras, head of Greece's conservative
opposition New Democracy party, calls for a caretaker government
to lead the country until snap election is held. The present
parliament should ratify the bailout package, he says.  	
    * 1207 -- White House says Greek situation underscores need
to move rapidly to implement euro zone debt package.	
    * 1154 -- Papandreou will visit President Karolos Papoulias
after an emergency cabinet meeting, state television reports.	
    * 1143 -- G20 is assessing the cost of a Greek default and
the implications of Greece's possible exit from the euro zone, a
senior G20 official says. 	
    * 1140 -- EU Commission says the place of Greece is within
the euro zone and there are instruments in place to ensure that,
adding it considers this is the only option on the table.	
    * 1128 -- Russia's President Dmitry Medvedev says
responsibility for solving the euro zone crisis lies with
national governments. Medvedev says Russia would still
participate in IMF programmes to support the euro zone.	
    * 1116 -- Papandreou has not resigned and does not intend
to, a Greek newspaper quoted his chief of staff as saying.  	
    * 1115 -- A group of senior Greek ruling party lawmakers
prepare a proposal for a coalition government headed by former
European Central Bank vice president Lucas Papademos, sources in
Prime Minister George Papandreou's party tell Reuters.	
    * 1055 -- China's Hu Jintao says euro zone needs to rely on
itself to solve debt crisis, world must support and help.	
    * 1041 -- A government source says Greece has enough cash to
make it until mid-December as fears grow about when the country
will get its next tranche of aid from foreign lenders. 	
    * 1031 -- Socialist lawmaker Telemachos Hitiris urges
Papandreou to form a coalition government and later call an
early election. Election should be held only after a 130 billion
euro bailout for Greece has been approved and the latest euro
tranche secured.	
    * 0945 -- China's Hu says BRICS discussed euro zone crisis. 	
    * 0942 -- U.S. President Barack Obama says he agrees with
French President Nicolas Sarkozy that the EU has made important
steps towards a comprehensive solution to the debt crisis. 	
    * 0858 -- Greek ruling party lawmaker Dimitris Lintzeris
calls on Papandreou to resign, becoming the latest lawmaker to
pile pressure on the embattled leader.	
   * 0844 -- PASOK lawmaker Eva Kaili says she will not support
the Greek government in a parliamentary vote of confidence.	
   * 0839 -- Papandreou calls an emergency cabinet meeting for
1000 GMT on Thursday.	
   * 0837 -- Greece's PASOK ruling party parliamentary group
will meet later, state radio NET says. More dissident lawmakers
in PASOK speak out against a referendum and call for a national
unity government or an early election, casting doubt on whether
Papandreou can win a confidence vote on Friday.	
   * 0830 -- Ruling party lawmaker Elena Panariti tells local
radio she will not back the referendum proposed by Papandreou.	
   * 0722 -- Greek Finance Minister Evangelos Venizelos opposes
holding a referendum on the euro zone bailout package, a finance
ministry source tells Reuters.	
   * 0655 -- Ruling party lawmaker, Mimis Androulakis, says
Papandreou should withdraw his plan for a referendum.	
    * 0648 -- Greece's planned referendum should not be about
membership of the euro, Deputy Finance Minister Pantelis
Oikonomou says. He rejects what he calls an ultimatum after the
leaders of Germany and France say Athens will not receive
another cent in European aid until it decides whether it wants
to stay in the euro zone.
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