THE GREEK OPPOSITION leader Antonis Samras has reiterated his calls for the resignation of the Greek prime minister George Papandreou, and it’s believed that today’s cabinet meeting may be Papandreou’s last.

CNN reports that the Greek government has released a statement confirming that Papandreou will step down following the formation of a new coalition government.

Greek leaders have entered a second day of closed-door talks today in an effort to end the ongoing political crisis, under intense pressure to ensure the country doesn’t go bankrupt in the next few weeks and that it remains in the eurozone. An emergency cabinet meeting will be held at 4pm local time.

Papandreou, mid-way into a four-year term, has promised early elections by March and said he would step aside once a new unity government is agreed on.

Earlier Samaras said talks between the two parties were taking place and Antonis Samaras also reiterated his stance that Papandreou must resign before any coalition discussions can take place.

Samaras made his latest comments after a brief meeting with President Karolos Papoulias, a mainly ceremonial figure who has called for collaboration between the two main parties.

The socialists and the main opposition New Democracy differ on the duration of a caretaker government, with the opposition demanding elections within a few weeks and the government saying the coalition Cabinet should last through the end of February.

Read: Greek leaders continue talks, with only five weeks worth of cash left

- Additional reporting by AP