Euro crisis

Students of modern Greek politics were taken by surprise when PM George Papandreou announced last night that he would be taking the 'package' agreed by Euro zone countries on the 28 October to a referendum. It now appears that even his Finance Minister, Evangelos Venizelos, did not know he was planning this. President Sarkozi and Angela Merkel are also shocked by this decision. It means that the uncertainty has been reintroduced back into the equation.

I must say that although I was expecting the PASOK leader to go to parliament for a vote of confidence I did not expect him to go down the referendum avenue. This will take time and of course prolong the crisis. On the other hand it is the democratic right of the people to be given the chance to make a final decision as they will be the ones that have to pay the price. The opposition leader, Samaras, is being dishonest when he asks for an immediate election. An alternative Tory PM is that last thing the country could need right now. It was his party after all that created the mess Greece is into right now.

http://lawatwork.blogspot.com/2011/11/greek-referendum.html


http://lawatwork.blogspot.com/2011/10/german-warning.html


http://lawatwork.blogspot.com/2011/10/last-chance-for-euroland.html