The Greek PM came back from his meetings with the great and the bad on the 26 October and brought with him a 'deal' which meant that the people of Greece would have to pay for loans given with high interest rates for the next 50 years at least this would enable the Germean bankers to continue getting their heavy bonuses.
Everyone thought that was the beginning of the end of the story but then he announced that he would be holding a referendum only he forgot to let his Finance Minister know before he made the declaration. The whole place went tits up and the markets ( no idea who these unelected people are?) created a crisis so Merkel and Sarkozi threatened to pull out of the so called deal only their threat could mean that their darling euro would collapse and them with it, so Papandreou was instructed to bin the referendum which he did.
The pressure was then put on on all his MPs and other parties to give him a vote of confidence and he got his 10 majority last night. Meaning that the euro survives temporarily, temporarily because when the Italian spaghetti hits the fan the euro will be chasing its self down the toilet...
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