|From:||shaista husain <email@example.com>|
|Sent time:||Tuesday, November 01, 2011 11:39:29 AM|
|Subject:||SPAM-MED: Re: [september17discuss] Greek government on verge of collapse over austerity referendum|
There is a lot missing Gabriel, I am just asking --posing the
issues--what you call an economic slowdown, i would call economic
asphixiation or a brutal shock....cheers, shai
On Tue, Nov 1, 2011 at 1:29 PM, Gabriel Johnson <firstname.lastname@example.org> wrote:
> "unpopular austerity measures"
> This does not seem like "New Deal" measures to me. This seems like the
> opposite of that, and the opposite of what Keynes would prescribe during an
> economic slowdown. Is there something not in the article I'm missing?
> On Tue, Nov 1, 2011 at 1:12 PM, shaista husain <email@example.com>
>> Thanks for posting this,
>> The social democratic leadership PASOK party have sold out to the
>> Troika and Greece really is on the brink of a revolution--it is also
>> the weakest link in Europe. It is important that we understand why
>> social democracy and why this Third Party has not been able to
>> implement reform and structural changes for the people. Greece poses
>> an interesting lesson--and those of us who think similar keynesian
>> "New Deal" steps are a solution to our problem (*yes anything is
>> better than what we have now*!!!!) but these "New Deal" policies are
>> being rejected by the Greek workers, as these measures have not been
>> able solve the economic crisis. What are the people of Greece
>> On Tue, Nov 1, 2011 at 11:01 AM, Doug Singsen <firstname.lastname@example.org>
>> > http://www.nytimes.com/2011/11/02/world/europe/markets-tumble-as-greece-plans-referendum-on-latest-europe-aid-deal.html?_r=1&hp
>> > Government in Greece Nears Collapse Over Referendum
>> > By NIKI KITSANTONIS and RACHEL DONADIO
>> > ATHENS — The Greek government was plunged into chaos on Tuesday and
>> > faced an
>> > imminent collapse, as lawmakers rebelled against Prime Minister George
>> > Papandreou’s surprise call for a popular referendum on a new debt deal
>> > with
>> > Greece’s foreign lenders.
>> > Power company customers lined up in Athens on Monday to ask about a new
>> > tax.
>> > President George A. Papandreou’s surprise promise of a vote on austerity
>> > measures threatens a deal reached to ease the European debt crisis.
>> > Such a collapse would not only render the referendum plan moot, it would
>> > likely scuttle — or at least delay — the debt deal that was agreed on in
>> > Brussels last week, putting Greece on a fast track to default and
>> > possible
>> > exit from the monetary union of countries sharing the euro currency.
>> > Analysts said that Mr. Papandreou’s call for a referendum was a last
>> > resort,
>> > meant to gain broader political support for the unpopular austerity
>> > measures
>> > in the deal without forcing early elections that would only worsen the
>> > country’s political and economic turmoil.
>> > But after weeks of mounting pressure, one Socialist lawmaker quit the
>> > party
>> > to become an independent, reducing Mr. Papandreou’s majority to 152
>> > seats
>> > out of 300 in Parliament, and another six Socialists wrote a letter
>> > calling
>> > on Mr. Papandreou to resign and schedule early elections for a new
>> > government with greater political legitimacy. Together, the developments
>> > made it doubtful whether his government would survive a confidence vote
>> > planned for Friday.
>> > Meanwhile, the center-right opposition New Democracy party on Tuesday
>> > stepped up its calls for early elections. Its leader, Antonis Samaras,
>> > has
>> > opposed most of the austerity measures the government accepted in
>> > exchange
>> > for foreign financial aid. Mr. Samaras has said that if he were in
>> > power, he
>> > would try to renegotiate the terms of Greece’s arrangement with its
>> > principal foreign lenders, known as the troika: the European Union, the
>> > European Central Bank and the International Monetary Fund.
>> > “Mr. Papandreou, in his effort to save himself, has presented a divisive
>> > and
>> > extortionate dilemma,” Mr. Samaras said on Tuesday. “New Democracy is
>> > determined to avert, at all costs, such reckless adventurism.”
>> > Mr. Samaras declined to say whether he would ask his 85 members of
>> > Parliament to resign, a move that would lead to the dissolution of
>> > Parliament and a snap election. The next general election was not due
>> > until
>> > 2013, when the Socialists’ four-year-term expires. Mr. Samaras is
>> > expected
>> > to clarify his stance at a meeting of his party’s parliamentary group on
>> > Wednesday.
>> > European leaders have repeatedly dismissed Mr. Samaras’s notion of
>> > renegotiating Greece’s deal with its lenders, saying that trying to do
>> > so
>> > would be damaging and would throw away months of work on a plan to keep
>> > Greece from defaulting.
>> > Mr. Papandreou’s announcement of a referendum took Greek lawmakers by
>> > surprise, just a s it did political leaders and investors across Europe.
>> > On
>> > Tuesday, the state television channel Net reported that even the finance
>> > minister, Evangelos Venizelos, had not been informed in advance about
>> > the
>> > referendum, although he was aware of plans for a confidence vote.
>> > Mr. Venizelos was taken to a hospital Tuesday morning, complaining of
>> > stomach pain. Doctors said he had an inflamed appendix. He is the latest
>> > in
>> > a string of governing party officials to be rushed to hospitals in
>> > recent
>> > weeks. One Greek negotiator had a heart attack in Brussels last week.
>> > On Tuesday, European leaders said the deal reached last week to write
>> > down
>> > 50 percent of some Greek debt was the best available way to build a
>> > financial “firewall” that would keep Greece’s troubles from causing a
>> > damaging run on other shaky European economies like that of Italy.
>> > The political instability in Greece has long dismayed European
>> > officials. In
>> > a statement, the president of the European Commission, Jose Manuel
>> > Barroso,
>> > and the president of the European Council, Herman Van Rompuy, said that
>> > Europe’s plans to protect other vulnerable members were “more necessary
>> > than
>> > ever, without delay.”
>> > “We are convinced that this agreement is the best for Greece,” they
>> > added.
>> > “We fully trust that Greece will honor the commitments undertaken in
>> > relation to the euro area and the international community.”
>> > In Greece, Mr. Papandreou’s referendum proposal seemed to be his last,
>> > best
>> > hope. His political capital has dried up, and he faces intense anger
>> > from
>> > voters who have been squeezed to the breaking point by the austerity
>> > measures demanded by Greece’s foreign lenders.
>> > “Papandreou could not take more political punishment,” said George
>> > Kirsos, a
>> > political analyst and the owner of the Athens City Paper. “We have a
>> > strange
>> > situation: Everyone’s cursing the government, and everyone expects the
>> > government to do the job by itself — to reorganize the economy, to cut
>> > the
>> > deficit, to make a deal with the Germans — but at the same time, nobody
>> > helps him.”
>> > “All parties and all media criticize the government,” Mr. Kirstos added.
>> > “So
>> > Papandreou, in a sense, tried his best to do the referendum to force the
>> > parties, the media and the citizens to undertake their own
>> > responsibility.
>> > The referendum is a yes or no issue: Either you are in favor, or you
>> > decide
>> > that you say goodbye to the euro zone.”
>> > Charged by Europe with dismantling the welfare state they helped create,
>> > many of Mr. Papandreou’s Socialist members of Parliament feel they too
>> > have
>> > reached their breaking points.
>> > Vasso Papandreou, a prominent member of parliament and a former minister
>> > who
>> > is not related to the prime minister, called on Greek President Karolos
>> > Papoulias to order the formation of a unity government ahead of early
>> > general elections. “Bankruptcy is imminent,” she said. Earlier this
>> > month,
>> > Ms. Papandreou said she would vote for a new raft of austerity measures,
>> > but
>> > that it would be “the last time” she supported the government
>> > unconditionally.
>> > “The current government has none of these necessary prerequisites.
>> > Today’s
>> > government policy is asphyxiating. Day by day the country is
>> > experiencing
>> > collapse, lawlessness and absence of government,” they added.
>> > If Mr. Papandreou’s government falls, it would not be the first one in
>> > Europe to be toppled by the austerity demanded by European debt relief.
>> > In
>> > Ireland and Portuga,l governments that accepted bailouts from the
>> > European
>> > Union and the International Monetary Fund fell, and last month the
>> > Slovakian
>> > government fell over whether to participate in the European Union’s
>> > rescue
>> > package.
>> > Niki Kitsantonis reported from Athens and Rachel Donadio from Rome.
>> > Stephen
>> > Castle contributed reporting from Brussels.
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