Greece PM offers to step down, reports say

Greek state television is reporting that Prime Minister George Papandreou has proposed to step down so his Socialist party can form a coalition with the centre-right opposition if it supports a new bailout for the country’s debt issues. The news surfaced on Wednesday as thousands of protesters faced off with police across the country to protest new austerity measures. The offer to resign is a significant compromise for Papandreou, who has struggled to pass new spending cuts and receive more international aid in order to avoid a financial collapse amidst abysmal support and growing cracks within his party.

New York Times