Sunday, 9 October 2011

A critical weekend for the debt is upon us

Consecutive meetings both in Greece and abroad

Today, he will devote time to his family, as a few days ago it was his mother’s birthday, but George Papandreou has been in Paris, at a meeting with Nicolas Sarkozy.

Tomorrow, he will travel to Mount Athos for the anniversary of the 20 years of the rise of Bartholomew to the Ecumenical Throne of Constantinople and from there, if requested, he will travel anywhere in Europe designated by Merkel and Sarkozy. Back in Athens, Evangelos Venizelos will continue bargaining with the Troika throughout the weekend.

George Papandreou hopes that there will be a final decision on the Greek debt problem. With this expectation, he has requested  that Evangelos Venizelos include the reserve law, as well as the new wage cuts, tax breaks and salaries, in the multi-law bill. The last line of defense put up by the government concerns employment contracts with the private sector, a matter which might see developments within the week, if Merkel and Sarkozy keep “sizzling” Greece. That might go on longer than expected, since the Troika report will be completed on… October 24th!

Greece is waiting for the debt “haircut” and the strengthening of the EFSF in order to keep banks and funds on their feet. He hopes that lenders will stop asking for new measures. German newspapers which mention the “Bulgarian example” with 300-euro salaries did not leave much room for optimism. The front of capital and political development remains open, since no one can guarantee the unity of the government, the MP group, or the continuation of the smooth cooperation between George Papandreou and Evangelos Venizelos.

Already, members of PASOK are revealing their thoughts about resigning, or addressing the PM and requesting a government coalition or early elections.

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