The leader of Greece made an understandable decision by calling for a citizens' referendum to decide whether the nation will accept a bailout, Canada's top banker said during federal testimony on Tuesday.
Mark Carney, governor of the Central Bank of Canada, told the finance committee of the House of Commons that Greek Prime Minister George Papandreou was seeing if public opinion endorsed the measure that was approved by euro zone leaders five days ago in Brussels, Reuters reports.
Worldwide markets were shaken by Papandreou's call for a referendum, particularly because the European Financial Stability Facility was finalized just late last week. Commodities like precious and industrial metals are down and currencies have reacted wildly.
Two people who were not as receptive to the Greek premier's call were the leaders of Germany and France, the two top economies of the euro zone.
The prime minister's call "surprised all of Europe," French President Nicolas Sarkozy told reporters in Paris on Tuesday, according to Bloomberg. "The plan adopted unanimously by the 17 members of the euro area last Thursday is the only possible way to resolve the problem of Greek debt."
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