Greece referendum puts eurozone rescue plan in jeopardy

Greek flag

The eurozone's latest bailout plan could be thwarted after Greek authorities announced plans to hold a referendum on the country's participation in the deal.

Last Thursday, European Union leaders agreed to a comprehensive set of measures to tackle the sovereign debt crisis that has plagued Europe, which included a new €100 billion ($136.8 billion) bailout for Greece and a voluntary 50% haircut on Greek sovereign debt. However, on Monday, Greek prime minister George Papandreou surprised markets

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