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UPD: Turmoil as Ministers Admit To Have Not Read the Loan Agreement Between Greece and the Troika

UPD: After the turmoil, Chyssochoidis told Greek media that he had indeed an idea about the general directives of the MoU, he just didn’t read all the 2,200 pages of the Memorandum of Understanding. Luka Katseli told also media that she had thoroughly read the MoU.

Two leading ministers of PASOK government admitted that they voted in favor of the Memorandum of Understanding without knowing its content. ” I didn’t read the Memorandum, because I was busy combating the crime and restructuring the police forces, the fire brigades” Development Minister Michalis Chryssochoides told private SKAI TV this morning adding “It wasn’t my job to read it”. When the loan agreement between Greece and its lenders was signed in June 2010, Chryssochoidis was Minister for Citizen’s Protection.

Video: Chryssochoidis

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Chryssochoidis statement comes a day after Louka Katseli, Minister for Economy and Competitiveness in June 2010, admitted she received the MoU in the early morning hours on a Saturday and she spent 3 hours reading the several hundred pages of the loan agreement.  Private TV Mega anchorman asked Katseli “How could this possible happen?” and she answered “The conditions were such, the pressure was so big, there was no space for something more.”


Chryssochoidis, Katseli feeling the Memorandum Lullaby

Chryssochidis and Katseli stunned the public admitting that they hardly knew what they were voting for. The Memorandum of Understanding that enslaves Greeks for several decades and impoverishes large parts of the society.

The statements of the two ministers did not left only the television audience in a state of total speechlessness. However it has not been known how  the 85,000 voters of Chryssochoidis and the 71,000 voters of Katseli reacted. Both ministers are elected in the second election department of Athens, the largest in the Greek capital consisting of middle class and low income households, most hit by the economic crisis and  the harsh austerity measures.

 Chryssochoidis and Katseli have expressed their wish to succeed George Papandreou in PASOK leadership and eventually become prime ministers of this country.

It looks as if the majority of the Papandreou ministers had not read the MoU under the immense time pressure. But the voted for it with the known hazardous consequences for Greece and its citizens. Pathetic.

I wonder who has read the Memorandum of Understanding before voting and signing it. KTG has been saying the whole time, that the MoU was a … misunderstanding!

Statements Trigger Angry Reactions

The Greek internet got fire with Angry Greeks lashing out against the ministers. “We’re tired of swearing at you” writes an internet user and another comments “They didn’t read the memorandum and now there are 1 million people without a job”. The majority of internet users uses very harsh words, which are a No-No in this blog.

A hashtag was created in Twitter where  Greeks containing many angry and ironic comment.  

In #den_diavasa_to_mnimonio_giati (#I_Didn’t_Read_The_Memorandum_Because) Greeks write 

“I didn’t read the memorandum because I was blinded by the sun”

” I didn’t read the Memorandum because I used it as toilet paper”

 “I didn’t read the Memorandum because I had an appointment with Batman in order to combat the crime” 

“… Because I had no idea people would lash out at me on Twitter” 

 “…because I’m waiting for the sequel, so I can read them both”

“…because I didn’t want to get influenced; just wanted to vote unbiased”

You can read more Greek comments here and here and here

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  1. “The Memorandum of Understanding that enslaves Greeks for several decades and impoverishes large parts of the society.”
    Surely it is the Greek government who has enslaved the people and sentenced them to decades of poverty by their mis-management, corruption and greed. The MoU is a “negotiated” document where the lenders ask for assurances that the loan can be repaid, and list measures that need to be taken to make repayment a realistic possibility. The Greek government signed up, even though some had no idea what they were agreeing to. They were free to reject it or, at least re-negotiate. Because the measures called for in the original document have not materialised it is hardly surprising that Europe is pressing hard to be re-assured that changes will be made before the second tranch of money is agreed. This hardly counts as “blackmail”, a word used far too many times, and incorrectly, in these pages. If the Greek government and people do not like what is being asked of them then reject the revised MoU and turn down the loan and sort it’s problems out itself, they are of its own making. It is time to stop pointing fingers at others and calling them names, it is time to look inward and start finding solutions. Until it does Greece will never be able to hold its head up in the international community.

  2. I agree with the above comments. I find it totally incomprehensible that when this beautiful country is at the point of meltdown, these well paid so-called ministers,who have been elected to serve their people, admit that they have not even read the MoU ! Does anybody take responsibility in this country, or are you all ‘happy’ to allow the EU to sort out your mess? It is because of this country’s mismanagement that we are now in this dire situation, and it is surely up to this government to finally grow up and see what must be done! If the government can’t expedite the necessary remedies, then stand down and put the unemployed into power, they could surely do a better job than the ‘professional economists’…