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Euro Zone Summit: Greece in Agony

Greek Prime Minister George Papandreou flies for Brussels today to have a series of meetings, which are covered in full secrecy for fear of any leakage of solution scenarios.

“We go to the Summit with specific positions, but without specific goals”, a senior government official said, explaining that all scenarios are possible till the last minute and that Greece is not willing to accept or reject anything a priori.

On Tuesday, Papandreou held a round of telephone calls with all political leaders –except Dora Bakoyanni and Fotis Kouvelis, who talked with FinMin E.Venizelos. The discussions were informative but the short conversation with main opposition leader Antonis Samaras indicated that the consensus is impossible.

Asked whether there is a red line in negotiations, government officials replied that the red line is the interest of Greek economy and households, liquidity and debt servicing. However, the answer given by Venizelos was more dramatic: “no solution would be the worst scenario”.

What LAOS leader Giorgos Karatzaferis leaked gave the impression that Greece considers even a veto. Government sources commented that “this word does not exist for us”, but stressed that Greece is determined to fall fighting.

Regarding the basic principles of negotiation, a package solution is promoted. Selective default is not a Greek proposal, while any guarantees would be accepted only in the framework set by the Eurogroup.


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  1. …Greece considers even a veto.

    I was wondering about that for a while now. No analysis around the world seem to even think about the fact that Greece has, as a EU-member, the right to veto any proposal.
    Not saying that it would be wise as I think all hell will break loose at that point. Just strange.

    • keeptalkinggreece

      Veto? hahaha… Greece is not in such a position, apart from the fact that it is a euro zone issue. if Papandreou will not agree, he will return to Athens

      • You mean that he will leave the table and let the faith of Greece and the Greeks be decided by those who remain???