In what for some will have been a surprise move, the Greek Cabinet has unanimously agreed to Prime Minister Papandreou's call for Greece to hold a referendum. In doing so the cabinet has in effect put its support behind the PM. Perhaps cabinet members feared he would resign, after all who would want to take over?
Currently Papandreou is in a no win situation.
He may have been temporary flavour of the month with Eurozone leaders such as Angela Merkel and Nicolas Sarkozy, when he went along with their plans for Greece, but it must be for the Greek people to decide their future.
Currently Papandreou is in a no win situation.
He may have been temporary flavour of the month with Eurozone leaders such as Angela Merkel and Nicolas Sarkozy, when he went along with their plans for Greece, but it must be for the Greek people to decide their future.
As this debt crisis in Greece has lumbered on the people have seen their standard of living savagely cut, violent protests in the street and less tourists visiting this wonderful country of theirs, which simply adds to financial woes.
At least now the people can make a choice. If they vote no to the debt package then it will probably mean that Greece will leave the Eurozone. In doing so they will attack the financial future of other countries in Europe, notably France and Germany. However if unity in Euorpe, as far as an economic community goes, is not possible so be it.
Why flog a dead horse.
One way or another we are reaching a make or break time as far as Europe and the EU goes.
The Greek emergency cabinet held today, November 2, 2011, was told that a referendum, possibly in December, would offer "a clear mandate" for the austerity measures demanded by eurozone partners. If the majority of the people vote "Yes" then this should put an end to some of Greece's problems, as far as the confidence of the people, disruption and strikes goes.
Already today the markets have tumbled further, on top of huge losses experienced yesterday. You can say that the Greeks are acting in a totally selfish manner but who can blame them? Eurozone and EU unity has become something of a standing joke in recent times. Each leader is simply protecting their own back yard and trading interests. Is it time to tear up the original design and start again?
The fact that such news of a referendum can cause such chaos in World Markets leaves this writer agreeing with the Occupy Protest Movement, that 1% of the people are controlling the finances and the future of the other 99%. That cannot be right, can it?
At least now the people can make a choice. If they vote no to the debt package then it will probably mean that Greece will leave the Eurozone. In doing so they will attack the financial future of other countries in Europe, notably France and Germany. However if unity in Euorpe, as far as an economic community goes, is not possible so be it.
Why flog a dead horse.
One way or another we are reaching a make or break time as far as Europe and the EU goes.
The Greek emergency cabinet held today, November 2, 2011, was told that a referendum, possibly in December, would offer "a clear mandate" for the austerity measures demanded by eurozone partners. If the majority of the people vote "Yes" then this should put an end to some of Greece's problems, as far as the confidence of the people, disruption and strikes goes.
Already today the markets have tumbled further, on top of huge losses experienced yesterday. You can say that the Greeks are acting in a totally selfish manner but who can blame them? Eurozone and EU unity has become something of a standing joke in recent times. Each leader is simply protecting their own back yard and trading interests. Is it time to tear up the original design and start again?
The fact that such news of a referendum can cause such chaos in World Markets leaves this writer agreeing with the Occupy Protest Movement, that 1% of the people are controlling the finances and the future of the other 99%. That cannot be right, can it?
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