Greek PM not resigning

Greek Prime Minister George Papandreou insisted Thursday he will not resign in the face of a growing party revolt over shock plans to hold a referendum on a bailout plan, state television NET reported. Papandreou made the statement during an emergency cabinet meeting held ahead of a critical confidence vote on Friday where a number of ruling party deputies have threatened to vote against the government, the television said. "The country has an elected government and an elected prime minister, and they will take decisions soon," government spokesman Elias Mossialos told reporters outside parliament as he entered the cabinet meeting. The ruling socialist Pasok party's lawmakers have been summoned to a meeting at 1500 GMT, NET said. The Greek government was hanging on by a thread as allies and opponents alike revolted against the referendum plan that threatens to derail a massive EU bailout for the debt-ridden nation. Papandreou looks set to lose his parliamentary majority in the confidence vote, further adding to the political turmoil. Finance Minister Evangelos Venizelos -- a former challenger for the Pasok leadership -- came out strongly against the referendum, warning it could scupper the hard-won 100-billion-euro bailout. Papandreou was summoned to Cannes Wednesday by furious eurozone leaders concerned that the deal hammered out last week to slash Greece's debt by almost a third would be dealt a death blow by the referendum planned for next month. European leaders warned that if Greece does not respect the terms of the rescue deal, it will not get "one more cent" from the next planned installment of EU and IMF funds. And the European Commission said that under EU treaties it would be impossible for a member state to exit the euro without also leaving the European Union.