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European Debt Call: Greece votes on Austerity measures | Insight Europe

In 12 hours and a lttle more , the Greek Parliament meets in Athens to vote on the final set of austerity measures which will then be presented to the EC if and when they are cleared by the Hellenic Parliament. The refomrs may finally include the pensions bill that cause last weeks series of extensions and will have to be adopted with new restructuring details for the exchange with private investors.

“A disorderly default would throw the country into a disastrous adventure. It would create conditions of uncontrollable economic chaos and social eruption,” Mr. Papademos said, adding that citizens’ deposits would be threatened and the country would be unable to pay salaries and pensions and keep schools and hospital running.

Instead of Papademos and a big chain of resignations, only a Dy Minister had resigned mid week  from the cabinet, implying Papademos was close enough to getting it done after a EC Summit went by wth everyone looking at Draghi’s commentary on ” I can’t say anything but I just got a phone call that an agreement has been reached”

Papademos also reiterated to MPs that failure on the task could lead to exit from the Euro and would “disrupt import of fuel,  food and machinery”(calculatedriskblog.com)

 

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One comment on “European Debt Call: Greece votes on Austerity measures | Insight Europe

  1. Pingback: European Debt Crisis: Papademos and Venizelos pull it off before Elections | The Banking and Strategy Initiative

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