The council of political party leaders will convene Friday, after noon, in an extraordinary meeting called the president of the republic, to discuss the economy.

According to sources, the President took the initiative for a meeting of the Council after agreement with Prime Minister George Papandreou.

Contacts were underway on Thursday with the leaders of the opposition parties in order to finalise the time of the meeting, after which a formal announcement would be issued.

According to the same sources, if no consesus is achieved, the government considers the possibility of a referendum or snap elections.