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View Full Version : Greek Prime Minister Survives Vote of No Confidence



Conley
11-05-2011, 08:51 AM
ATHENS, Greece (AP) — Greek Prime Minister George Papandreou survived a confidence vote early Saturday, calming a vicious revolt in his Socialist party with an emotional pledge to step aside if necessary and seek a cross-party government lasting four months to safeguard a new European debt agreement.
Papandreou won the critical parliamentary confidence motion 153-145 after a week of drama in Athens that horrified Greece's European partners, spooked global markets and overshadowed the Group of 20 summit in the French resort of Cannes.

The threat of a Greek default or exit from the common euro currency has worsened the continent's debt crisis, which is already struggling under bailouts for Greece, Ireland and Portugal.
Finance Minister Evangelos Venizelos, who warned that the debt-ridden country still faced "mortal danger," said the new government would last until the end of February.

But conservative opposition leader Antonis Samaras demanded immediate elections. He did not say whether he would join coalition talks, due to be formally launched later Saturday when Papandreou meets the country's president.

http://news.yahoo.com/greek-pm-wins-confidence-vote-pledges-transition-011628365.html

153-145...whew! Opponents are obviously still clamoring for new elections.

MMC
11-06-2011, 05:10 AM
Looks Like they want Italy's PM out to.

Conley
11-06-2011, 08:30 AM
Looks Like they want Italy's PM out to.


Who does?

MMC
11-06-2011, 08:52 AM
Looks Like they want Italy's PM out to.


Who does?


Italy's government and people.

Conley
11-06-2011, 08:57 AM
Ahhhh...

Well in that case you may as well add America to the list of countries who have no confidence in their leader ;)

MMC
11-07-2011, 06:33 AM
Looks Like Greece will now set up a Coalition Government. Calling itself the Unity Government. Either way Greece will write off 50% of their own debt holdings. Either way they will use this New Government to pass the IMF Bailout and keep that Euro-peon Union thing up and running. Even tho It is a failure.

http://news.yahoo.com/greek-pm-opposition-reach-power-sharing-deal-234924596.html

ATHENS, Greece (AP) — Greece's embattled prime minister and main opposition leader agreed Sunday to form an interim government to ensure the country's new European debt deal, capping a week of political turmoil that saw Greece face a catastrophic default that threatened its euro membership and roiled international markets.

As part of the deal, Prime Minister George Papandreou agreed to step down halfway through his four-year term. He and conservative opposition head Antonis Samaras are to meet Monday to discuss who will become prime minister and the makeup of the Cabinet.

The new unity government's main task will be to pass the European rescue package, reached after marathon negotiations between European leaders barely a week ago — a move considered crucial to shoring up the euro. The interim government will then lead the country into early elections, expected early next year.

The new European deal would give Greece an additional $179 billion (euro130 billion) in rescue loans and bank support. It would also see banks and private investors write off 50 percent of their Greek debt holdings, worth some $138 billion (euro100 billion). The goal is to reduce Greece's debts to the point where the country is able to handle its finances without relying on constant bailouts.

Two turbulent years after coming to power in a landslide election victory, Papandreou has seen his popularity plummet as his government has been forced to severely cut spending while hiking taxes to tackle a runaway deficit and debt that led Greece to become the first eurozone country to seek an international bailout.
Ireland and Portugal have since followed suit, but European leaders have been desperate to ensure other countries with larger economies are not also dragged down.....snip~

Forced to cut severe spending while hiking taxes to tackle a runaway deficit and debt.WHAT DONT THE DEMOS AND THE LEFT UNDERSTAND ABOUT THAT? Doesn't Work. http://politirant.com/Smileys/oldrant/slap2.gif Got that! >:D

MMC
11-08-2011, 11:08 AM
But once again we are being lied to about all this shit with Greece. First off as part of the Global Economy or even as part of the EU. What is it that Greece offers. This is a country that has some Tourism and is mainly agricultural. How much you think their banks are throwing into the EU in the First place. Also Greece has a notorius past of their people not paying taxes. Almost as far back as WWII. While they do import their exports are not that big. So for Greece it has always been about spending out of their means. Always! Nothing New! So why now all this importance with the EU? The calls of the global economy and

Today the EU economists were all gaping about how with these Elections will take more time. Unless they allow the Greek PM to stay in power to transition in something fast????? Fast Track the votes before anyone sees whats up? The French would like to see all the PIGS take the Hit. Yet today Frances second bank fell by 32%. Their first falling 70%. Not to mention the French arent up even. Next will be Spain. Portugal already Changed government and took the IMF Bailout.

IMO some countries are meant to collapse. Their Ending so to Speak!

Conley
11-08-2011, 11:26 AM
Greek citizens actually spent a lot which got the EU economies fired up, buying Porches and the like from Germany as just one example. The problem was they didn't have any real money and the banks were handing out loans like candy much as they did here in the mortgage bubble.

Check this article:

Fast cars and loose fiscal morals: there are more Porsches in Greece than taxpayers declaring 50,000 euro incomes

While German car workers may take pride in this evidence of their export success, German taxpayers may be less keen to bail out a nation whose population appears to take such a cavalier approach to paying its fiscal dues. Never mind all that macroeconomic talk about deficit distress, many Greeks are still plainly riding high on the hog.

Something can’t be right when the modest city of Larisa, capital of the agricultural region of Thessaly with 250,000 inhabitants, has more Porsches per head of the population than New York or London.

http://blogs.telegraph.co.uk/finance/ianmcowie/100012894/fast-cars-and-loose-fiscal-morals-there-are-more-porsches-in-greece-than-taxpayers-declaring-50000-euro-incomes/

MMC
11-08-2011, 11:58 AM
Still its not like their banks were pumping out any big money anyways. Plus if they have no major markets to use then it would be about all that spending. Which it was and is the reason why they have the problems they do. But as far as affecting the rest of the EUs economy they can save that BS. or thats Greeks deafult will affects us. Yeah if we bought up their debt. Otherwise Nothing!

Nothing from nothing leaves.....nothing!!!!!