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Greece: Cabinet backs bailout referendum, PM prepares to face Europe's anger

Greece's cabinet has unanimously backed Prime Minister George Papandreou's call for a referendum on the Greek bailout. Papandreou is due to hold emergency talks with other euro zone leaders later Wednesday.

Europe reacts to Papandreou bombshell

A jolt of genuine democracy to an un-democratic process.
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Yesterday world markets went haywire over Greek Prime Minister papandreou's unilateral decision to hold a referendum on the term of the Greek bail-out deal. The more measure reaction of European opinion formers today is less panicked. (Spencer Platt/AFP/Getty Images)
Greek Prime Minister Papandreou's decides to hold a referendum on the terms of the country's bail-out.
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Greece sets surprise referendum on bailout

The prime minister's shocker gives Greeks a voice, but pummels markets.
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Greek Prime MInister George Papandreou addressing the Greek parliament. His call for a referendum has rattled world markets and angered opposition politicians (YIANNIS LIAKOS/AFP/Getty Images)
Greeks to vote on euro bail-out package.
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