That was a tough day for the Greek coalition government of Lucas Papademos. Most of all it was tough for socialist party PASOK that saw three deputies and two ministers resign over the austerity measures. Fifteen to twenty MPs declared that they will not vote in favor of the Memorandum of Understanding …

Finance Minister Evangelos Venizelos and Health Minister Andreas Loverdos joined their political forces. Two high ranking Socialist PASOK officials will challenge party leader and ex PM George Papandreou first place in the leadership of the parliamentary group. Consequently in the leadership of the socialist party. We decided to struggle together” said …

Athens categorically rejected the German proposal to cede control over its budget to the European Union as a precognition for the second bailout, the rescue package for Greece. “We can never accept this. A similar proposal was made in the past by a  Dutch minister. We do not even discuss …

Greek political parties need to provide clear commitments before a second bailout can be offered to the country, Olli Rehn, European Commissioner in charge of economic and monetary affairs, told reporters Tuesday.    O. Rehn Gazing at  the Greek Commitment “The political party leaders are expected to commit to the …

Greece’s former prime Minister George Papandreou decided to stay at socialist PASOK leadership until he …goes. During a meeting of socialist Party PASOK, the ex PM told his companions in socialism that he will step down s party leader and will no seek to be re-elected. However that he will remain …

With the ambition to become ‘the new operating system in our society” the Pirate Party casts anchor in Greece and is expected to be formally established as  a political party towards end of January. The PP understands itself as the Greek branch of the Swedish Pirate Party (Piratpartei).  The party statute …

 Greek Prime Minister Lucas Papademos expressed satisfaction over the EU Summit of Dec 8-9th 2011, that layed the gorund for the new fiscal-disciplined European Fiscal Union. “Today’s summit decisions are a big step towards budget coordination and unification within the eurozone. By securing budget discipline we will in the future prevent uncontrolled …

Our KTG-friend Cheshire Cat just submitted his latest post of ” A Very European Financial Coup d’état”. To tell you the truth, I’m glad to see more and more people speaking of a Coup d’ Etat triggered by the markets and facilitated by the inability of the EU leaders to cope …

Greeks should stop complaining and get ready for the worst.  That’s more or less the message sent by Horst Reichenbach, the chief of EU Task Force in Athens. Head of a team of 30 troop-members with the target to reform the debt-ridden state.  In an interview to German daily DIE WELT, Reichenbach …

Greek provisional coalition government partner, Antonis Samaras, the leader of conservative New Democracy, had to bow to the blackmailing of Eurogroup Juncker and Germany’s Merkel “Sign or No 6th aid tranche”. Samaras had to sit down and write a letter of commitment to the October 26th loan agreement. At the end of …

Eurogroup chief jean-Claude Juncker sent an ultimatum to Greek politicians demanding to sign and send the paper of consent until next Tuesday, November 29th/2011, when the finance ministers of the Euro zone will meet to decide on the sixth aid tranche to Greece. Juncker’s ultimatum was officially spelled out during …

Do the markets cause the end of Democracy in Europe? If their pressure on elected governments is immense, the answer is most probably…. “Yes!”. There is this interesting article published on New York Times about “Conspiracies, Coups and Currencies“. It coincides more or less with the KTG-article “ Post-Post Modern Coup …

Former Greek Prime Minister Costas Simitis wrote an article to French newspaper Le Monde, directly answering Nicholas Sarkozy claims that  “Greece falsified statistical data in order to join the Euro Zone.” Simitis also indirectly gives an answer to Le Monde article claiming Goldman Sachs was the major Greek debt falsifier. Costas Simitis: …

Unelected but appointed leaders head the governments of  two of the four debt-ridden countries of the euro zone. Lucas Papademos in Greece, Mario Monti in Italy. The so-called ‘national unity’, ‘salvation’ or ‘coalition’ governments in both countries came into power under the time pressure applied by markets attacks. Their tactic is known meanwhile: a …

03:12 pm KTG’s impression from new PM: he speaks like an academician & banker and looks like non-smoker lol Time for a long break on the Greek Gov’t issue- KTG will come back when there clear answers to the questions (see below) 03:09 pm Papademos said, there were not given …

When I woke up this morning I was feeling fine. Fine? On the fifth day of fierce negotiations, scenarios, rumors and turnarounds, nothing had changed in Greece. George Papandreou isstill the prime minister – at least typically. Now a new PM name makes the round: Vassilis Skouris, President of the Court …

10:35 pm Nothing new. Live blogging is over… unless there would be some breakingthrough, of course.   07:45 pm Nothing new comes out – KTG is taking a shot/medium’long break, unless extraordinary developments happen….   07:15 pm Nothing new from the Greek front -[ Why do I have the feeling Samaras …

Obelix would be fully correct should he sit in front of his television and watch the news about the negotiations on the new Greek government. Greece’s lenders are over with patience, the USA isn’t feeling any better either. Greece’s EU ‘allies’, the Germans went even so far to prescribe the …

10:30 pm “There has been a positive approach on the new PM’s name” Papandreou-Samaras said in a jointed statement issued late on Monday night. Greek media report that the Cabinet will meet on Tuesday at 12 o’ clock noon. Reporters interpret this as that the Papandreou government will officially resign …

The era of George Papandreou is over.  On Monday, PASOK and Nea Dimokratia will meet to agree on the person who will lead the new Greek government. On Tuesday the new government come into power. Papandreou bowed to Samaras demand to resign. Immediately after the meeting between George Papandreou and …