Tuesday, November 1, 2011

Greek PM George Papandreou Risks All On Referendum

Less than a week after French and German leaders brokered yet another debt deal for the nation, Athens is now putting the plan, including a proposed 50 per cent write down of Greek debt through a referendum to be voted on by the people.

However, the eurozone deal is not the only thing George Papandreou is putting on the line in the impending vote. With only a three-seat majority in the parliament, the prime minister is also putting his own leadership to the test with a confidence vote.

Despite on-going protests, the Greek people themselves say they want to remain in the European Union but that the eurozone nations were more focused on the nation's ailing banks and less on the Greek people themselves.

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