Greek PM scraps bailout referendum

AOL Money Staff
Greek prime minister, George Papandreou at G20
Greek prime minister, George Papandreou at G20

The Greek prime minister has dramatically scrapped plans for a referendum on the European rescue package amid mounting anger among fellow eurozone leaders.

Sources close to George Papandreou said he would not resign but would bow to opposition to his plans to put the bailout deal to a referendum.