A journalist stands in front of the WIG20 index screen at the Warsaw Stock Exchange November 2, 2011.
Credits: REUTERS/Kacper Pempel
World markets took a plunge Wednesday as Greek Prime Minister George Papandreou made a potentially suicidal move that could threaten his own tenuous hold on power, Greece's membership in the euro zone and world economies on the whole.
Papandreou shocked European leaders with his announcement that he'll let the Greek people vote on whether to accept a €178-billion bailout package, prompting French President Nicholas Sarkozy and German Chancellor Angela Merkel to demand the PM's explanation ahead of the latest G20 meeting in Cannes, France.
The controversial move divided Greece's parliament, leaving some within Papandreou's own party calling on him to resign and even fueling rumours of a coup. He faces a confidence vote in parliament on Friday.
Sun Media's Mark Dunn assessed the political impact of Papandreou's gambit on Newswire Wednesday.
Earlier, business expert John Stephenson joined The Roundtable to offer his take on what the referendum could mean for Greece, Europe and Canada.