Greece's Prime Minister has said that the referendum on the the Eurozone bailout plan will no longer go ahead - and it was never his intention for it to happen.
"The referendum was never an end in itself," George Papandreou told the cabinet according to statements released by his office and reported by Sky News.
"We had a dilemma - either true assent or a referendum. I said yesterday, if the assent were there, we would not need a referendum."
Papandreou had been under pressure to stand down, as a split emerged in his government over the plans to hold a public vote on the rescue deal.
He now says he has no intention to quit, but will hold talks with the opposition over their calls for a transitional government and early elections.
City A.M. Reporter