I remain curious why he is allowed to say that default is chaos without a shred of evidence, and countless examples to the contrary. His job, the reason the EU instated him as puppet was to do their bidding, yet every statement he utters in an effort to get that accomplished is treated as “gospel” truth.
People wonder why so many Greeks are in favor of the plan, and the reason is no alternative has been presented.
Today we read that representatives who voted against the plan have been dismissed by the party leaders. The “representation” has been completely reversed. The one tells the masses what to do when in theory the masses tell the one what to do. Greece, the “cradle” of democracy.
On the “bright side” we will get to see Germany and the rest back down from their demands that Greece fully and permanently support these changes, so we can get at least one more round of money.
Nothing about the vote is surprising, the reaction tomorrow from the EU will likely be all smiles. The market may rally (though it feels very priced in), and then we can focus on the IIF’s PSI and how badly Greece misses its February projections by. In the meantime, it seems like Portugal had their largest anti-austerity demonstration in awhile.
BN 02/12 22:16 *PAPADEMOS ENDS STATEMENTS TO PARLIAMENT IN ATHENS
BN 02/12 22:12 *PAPADEMOS SAYS MORE MEASURES WILL BE TAKEN IF NEEDED
BN 02/12 22:11 *PAPADEMOS SAYS LAWMAKERS VOTE TO DETERMINE IF GREECE IN EURO
BN 02/12 22:10 *PAPADEMOS SAYS PLAN AIMS AT GREECE EXITING CRISIS IN NEXT 2 YRS
BN 02/12 22:09 *PAPADEMOS SAYS PLAN WILL HAVE SHORT-TERM IMPACT ON INCOMES
BN 02/12 22:09 *PAPADEMOS SAYS PLAN WILL REQUIRE RIGHT MANAGEMENT, COORDINATION
BN 02/12 22:08 *PAPADEMOS SAYS FULL, PROMPT IMPLEMENTATION OF PLAN NOT EASY
BN 02/12 22:08 *PAPADEMOS SAYS MAIN POINT OF PLAN TO MAKE GREECE PRODUCTIVE
BN 02/12 22:08 *PAPADEMOS SAYS MAIN POINT OF PLAN TO MAKE GREECE COMPETITIVE
BN 02/12 22:07 *PAPADEMOS SAYS DISORDERLY DEFAULT LEADS GREECE TO CHAOS
BN 02/12 22:06 *PAPADEMOS SAYS ONLY REAL OPTION TO PLAN IS CATASTROPHIC DEFAULT
BN 02/12 22:04 *PAPADEMOS SAYS LOWERING MINIMUM WAGE WILL BOOST EMPLOYMENT