Papandreou Resigns as Greece Prime Minister

President Karolos Papoulias

The Greek Prime Minister Yorgos Papandreou will present his resignation today, however first he addressed the nation to talk about his achievements of the past two years.

Afterwards Papandreou will go to the presidential mansion to tender his resignation to President Karolos Papoulias. The political turmoil in Greece has shaken the international markets and most investors fear about their business partnerships.

Christine Lagarde, the current director of the International Monetary Fund (IMF), warned of a possible “lost decade” if the world’s nations do not work together against the troubling times ahead. (AV)