PM stepping down in Greece under pressure

Greek leaders have agreed to form a new coalition government without Prime Minister George Papandreou, the office of the Greek president said Sunday. In a statement, the office said Papandreou will step down and his successor will be chosen at talks Monday. Papandreou had faced a call from his resignation from main opposition leader Antonis Samaras, the BBC reported. Papandreou and Samaras had attended the talks, hosted by President Karolos Papoulias, that produced Sunday's statement. The statement said once a new prime minister has been named, the president will ask all parties to join the new government, the BBC said. Papandreou had been trying to build a coalition -- a national unity government -- but Samaras, of the New Democracy party, had been refusing to negotiate unless Papandreou resigned first. Papandreou narrowly won a confidence vote Friday night. The European Union and International Monetary Fund have pledged funding to prevent Greece from going into bankruptcy, which would create economic havoc within the EU. Greece will have to privatize some businesses, terminate many government jobs and reduce pensions in order to qualify for about $178 billion in bailout funding.