Greek Prime Minister George Papandreou is preparing to offer his resignation, according to reports from BBC News.
Greece’s conservative opposition leader is demanding the formation of a transition government and the immediate ratification by parliament of the new eurozone debt agreement.
Papandreou came under growing pressure to resign after calling a referendum on the deal. He was holding an emergency meeting with his ministers on Thursday.
Conservative leader Antonis Samaras made the demand for a transition government after several of Papandreou’s own Cabinet ministers and prominent members of his Socialist party made similar demands.