Greeks seemed uncertain on Saturday whether Prime Minister George Papandreou's survival of a confidence vote after pledging to step aside if necessary and seek a temporary cross-party government to safeguard a new European debt agreement was a good thing or not.

Papandreou won the critical parliamentary confidence motion 153-145 early on Saturday after a week of drama in Athens which horrified Greece's European partners, spooked global markets and overshadowed the Group of 20 summit in the French resort of Cannes.

The threat of a Greek default or exit from the common euro currency has worsened the continent's debt crisis, which is already struggling under bailouts for Greece, Ireland and Portugal.

Finance Minister Evangelos Venizelos, who warned that the debt-ridden country still faced "mortal danger," said the new government would last four months, until the end of February.

But conservative opposition leader Antonis Samaras demanded immediate elections.

He did not say whether he would join coalition talks, due to be formally launched later on Saturday when Papandreou meets the country's president.

Midway through its four-year term, Papandreou's government came under threat after his disastrous bid this week to hold a referendum on a major new European debt agreement.

The idea was swiftly scrapped on Thursday after an angry response from markets and European leaders who said any popular vote in Greece would determine whether the country would keep its cherished euro membership.

They also vowed to withhold a critical 8 (b) billion euros installment of loans from an existing bailout deal that Greece needs urgently to stave off an imminent and catastrophic default.

Papandreou's shock referendum gamble, and the hostile international response, horrified many of his own party stalwarts.

It prompted an open rebellion with senior socialists saying they would only back the confidence vote if he pledged to seek a cross-party coalition with a mandate to secure the new debt deal and the disbursement next bailout loan installment.

Struggling to face down the revolt, Papandreou insisted his only priority was to save the country.

He insisted he was not concerned with retaining the premiership, but warned that elections now would have been "catastrophic," jeopardizing Greece's continued bailout funding, the new debt deal and the country's euro membership.