Greek PM Rejects Pressure To Resign, Scraps Plan For Bailout Referendum

Greek Prime Minister George Papandreou returns to an emergency cabinet meeting after he took a short break at the Greek parliament in Athens, on Thursday. (AP)

Greek Prime Minister George Papandreou is reportedly rejecting pressure to resign, despite earlier reports that he would.

But he is also scrapping his plan to hold a referendum on the European Union’s $177-billion bailout package.

Greece’s finance minister has confirmed that the country won’t hold the controversial bailout referendum.

Guest:

• Brian Williams, Reuters correspondent in Athens