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What You Should Know / November 7, 2011 -- Greek Prime Minister George Papandreou agreed to resign Sunday and be replaced by a coalition government of national unity that will have a mandate from the bankers and European heads of state to impose even more drastic austerity measures on the working people of Greece. Papandreou held what a spokesman said was his last cabinet meeting as leader of the social democratic PASOK party before entering a protracted meeting with President Karolos Papoulias and Antonis Samaras, leader of the opposition right-wing New Democracy party. The talks faced a double deadline Monday—the opening of the financial markets in Europe, hit by huge sell-offs last week over the Greek crisis, and a meeting of European Union finance ministers in Brussels. The Greek delegate to that meeting, Finance Minister Evangelos Venizelos, was expected to confirm the formation of a new government committed to carrying out the terms of the EU agreement reached October 26 on a restructuring of Greece’s debt.

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