There's A Report In FT Deutschland That Greek PM Papandreou Has Considered Resignation

George Papandreou

Photo: pasokphotos via Flickr

Financial Times Deutscheland is reporting (German)  that Greek Prime Minister George Papandreou has been considering resignation.Here’s what the report says (via Google Translate):

The Greek Prime Minister George Papandreou has information to the Financial Times Germany over the past three weeks, twice spoken with confidants about his resignation. Both times he had “offered his resignation” – and then gone on but it said in the context of Papandreou. The head of government of the ordeal hold between the protests of their own people against the austerity program, on the one hand and the requirements of EU and International Monetary Fund (IMF) on the other was not long. Papandreou was feeling powerless, an insider said: “Greece decides on anything.”

Papandreou has been facing intense criticism over the past few months, forced to impose harsh austerity measures even as the Greek economy contracts.

Even so, Papandreou admitted that Greece will still miss the defecity-reduction goals instituted by the EU/ECB/IMF troika upon disbursement of the first Greek bailout.

NOW WATCH: Money & Markets videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at research.businessinsider.com.au.