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It is a big gamble for Mr Papandreou, who will argue that it is in Greece's national interest to support the deal, the BBC's Europe editor Gavin Hewitt reports.
BBC: Greek crisis: Papandreou promises referendum on EU deal
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The BBC's Europe editor Gavin Hewitt said the ceasefire offer had "changed the equation" and he did not get the impression that military action was imminent - as seemed the case before.
BBC: David Cameron cautious over Libya ceasefire offer
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Gavin Hewitt, chief executive of the Scotch Whisky Association, which represents the industry, stressed that Scottish-made whisky was competing in tough international markets where it was up against other whiskies and other spirits, from vodka to distilled rice.
BBC: Whisky tax 'could benefit Scots'
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The BBC's Europe editor Gavin Hewitt, at the summit in Brussels, says he has been told it is likely that Mr Sarkozy and Mrs Merkel will sit down for brief talks with UK Prime Minister David Cameron, who is seen as the chief objector.
BBC: France's Sarkozy warns Europe risks disintegration
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There are a number of candidates, including Dafydd Lockyer (Pontypridd), Craig Mitchell (Neath), Andrew Bishop (Ospreys), Dafydd Hewitt (Cardiff), and Gavin Evans (Scarlets).
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