Greek crisis: As it happened

Key points

• Greek Prime Minister George Papandreou has addressed his MPs in parliament after telling an emergency cabinet meeting he is willing to drop the idea of a referendum on the EU bailout package
• The PM said he was assigning two senior party members to hold talks with the opposition. If the opposition agrees to back the bailout deal in parliament, no referendum would be held, he said
• The opposition New Democracy party says it would join a coalition government if Mr Papandreou agrees to stand down
• He has ruled out a snap election, saying it would run the risk of Greece going bankrupt
• Mr Papandreou still faces a confidence vote in parliament on Friday
• All times GMT