Papandreou’s Dangerous Game | Forex Factory

  • Papandreou’s Dangerous Game

    From oanda.com

    At first glance it is difficult to understand what could possibly have motivated Greek Prime Minister George Papandreou to announce a public referendum on the Greek debt deal. Any sense of stability that had been achieved by last week’s summit meeting of Eurozone leaders, and the news of a deal to prevent the region’s debt crisis from spreading, has been irretrievably lost. In order to qualify for emergency funding, Greece was tasked with getting its financial house in order. The so-called “austerity” measures to accomplish this goal have centered on the imposition of new taxes together with deep spending ... (full story)

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Hareii
Nov 1, 2011 12:47pm
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Give the man a break. He did not borrow the money that Greece owe currently. He is getting all the s_hit and yet everybody including some of his own countrymen blamed him.

Look closely at the TV coverage of the past few summits. Many EU official did not give him respect deserving of a country PM. Many shunned him and refused to shake his hand though he had extended his hand. All he is asking for now, I believe, is for a mandate from his countrymen so that he can press on and let the referendum result speak for itself to those striking unions and street protestors. I think this referendum is a good move. Hopefully the result turned out well.
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DragonFire
Nov 1, 2011 12:05pm
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whosoever is marked for destruction, first gets mad! Papandreou is losing his brain...who can blame him? too much pressure...debt load is so mightier than anything known to mankind, when a strong and fit get drown in debt; they lose their mind then commit suicide...
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hkg_paul
Nov 1, 2011 12:50pm
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that was my comment after the summit. they keep the time bomb. But it happen earlier than I thought.... shit. Now we are still waiting SNB action.
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Dave_1024
Nov 1, 2011 12:36pm
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There's nothing like biting the hand that feeds you when you're being desparately harried by your own country to get out of the Euro and at the same time defending yourself against creditors, the next option is as dragonFire says above 'commit suicide'. If Greece, (Part of the PIIGS), does pull out of the Euro and defaults back to a devalued Drachma the contagion will not only spread to the rest of the PIIGS, (Italy's next and both Portugal and Ireland are toiling to keep up with Spain not far behind), but you thought MF Global bankruptcy was bad. Believe me the dominos are starting to fall and there are a lot more coming out the woodwork before this ends.
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Aerton
Nov 1, 2011 12:32pm
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There never was "any sense if stability" in Greece about this. That's the reason. Revolution.
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Trader#3E00
Nov 1, 2011 12:18pm
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Papandreu play in forex..he sell EUR this morning
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