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Tag Archives: George Papandreou

UPD: New Greek “Salvation Government” Without Papandreou

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 …

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UPD: Papandreou-Samaras Agreed on Unity Government!

Scroll Down for the Latest Updates -Original Title of the post ” Greece’s new government – They play with our nerves “… But in fact Greek politicians play with their own nerves, the nerves of the media and the nerves of the Europeans. The nerves of the market investors, share holders and hedge …

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Greece: Papandreou Confidence Vote -Live Blogging in English

Under the pressure of many of his deputies Greek Prime Minister George Papandreou is being ‘forced’ to deliver his speech a couple of hours earlier than scheduled. Not shortly before the confidence vote starts at midnight, but in good half-an-hour, at 8 pm local time. Ruling party PASOK parliamentary group …

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Last Act of the Greek Tragicomedy?

You can call it what you want. A Farce. A Drama. A Tragicomedy. Political Acrobats. Theater of the Absurd. A Crazy-House. A Poker game. A Kindergarten. The political pandemonium  that took part yesterday in Greece was beyond any of logic. It stunned foreigners and Greeks alike. The national humiliation in Cannes, the referendum-‘card’ …

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Greece in Uproar After Cannes-Humiliation: Live Blogging

Greece is in uproar after French President Nicholas Sarkozy and German Chancellor Angela Merkel imposed the date and the referendum question and froze the 6th aid tranche of 8 billion euro until Greeks say YES to referendum. It was short after midnight when Merkel and Sarkozy announced the referendum conditions …

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Referendum Backfires: No 6th Aid Tranche Until After Greeks Vote YES

 “Blackmailing” has turned into major strategic tool among EU leaders and IMF technocrats and the ‘shock’ referendum proposal of Greek PM George Papandreou seems to backfire. It blocks the release of the six aid tranche of 8 billion euro for the payment of pensions and wages. CANNES, France(Reuters) – The European …

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G20 “Blocks” Political Developments in Greece

The invitation of French President Nicholas Sakrozy to Greek PM George Papandreou had a catalytic role in the political turmoil that broke out in Greece after Papandreou announced a referendum on the loan-agreement of October 26th. With no exception all opposition parties rejected the planned referendum and retiated their demand …

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Greece: Dramatic Political Developments – Live Blogging

The atmosphere within Greece’s governing party PASOK seems to be extremeley thick and Ministers come now and openly oppose the referendum or distance themselves after the fierce reactions by opposition parties and public. It looks as if PM Papandreou had not informed the cabinet on this decision, but just a few …

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Athens Stock Exchange Plunged -6.92% on Referendum

The Athens Stock Exchange suffered heavy losses of -6.92% in the aftermath of the referendum announcement on the loan-agreement on Monday evening by PM George Papandreou. The General Index closed qt 782.65 unit and the total volume was 75.72 million euro. Stocks on the banking sector suffered the heaviest losses …

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Europe, IIF “freeze” over Greek Referendum…

I guess the IMF is speechless too. So far there has been not official statement to the decision of Greek prime minister George Papandreou to put the new loan agreement in a referendum. Formally, the response of the representative of the European Union Carolina Kotova was “no comment” and “We …

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Greek PM Calls Referendum Over “Haircut”-Agreement

Greek prime minister George Papandreou announced referendum over the October 26th, 2011 Loan-Agreement  (“Haircut”-Agreement) stunning the public. It was the PM’s answer to all criticism by the opposition, the society and even some of his own deputies, the request for early elections and/or government of national unity. Speaking to parliamentary …

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UPD1: Latest Info on Greek Debt Countdown in Brussels

All eyes are focused on the European leaders in Brussels bound to take historical decisions on the Greek debt and the whole of Europe. The meeting is about to start soon. A failure of taking the needed decisions tonight might cause turmoil in the markets on Thursday morning, with Spanish and …

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Racing Against a Greek Default & PIIGS Contagion

Greek Prime Minister George Papandreou left Brussels and returned to Athens for 24 hours to calm down ‘rebelling’ PASOK deputies. No political development is possible before the final decisions on the Greek debt before Wednesday. Within ruling party PASOK voices are loud that the government cannot take such historical decisions …

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Greek PM – From “We pay back” to “Need a Breath”

Greek politicians’ slogans change in strict accordance to the country’s path to economic underworld. From the slogan “We ate together the public money” (deputy PM Pangalos) and you will pay everything back as expressed by PM Papandreou in “We will pay back every borrowed euro”  now Greeks are cheered to hear that the …

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Greece shocked by a Possible Haircut of 50-60%

Greece is shocked as European leaders accepted Germany’s proposal for a big haircut of 50-60% of the Greek bonds, much bigger than the 21% that was agreed on July 21. The banks have still problems with it , however the final decision is to be taken on Wednesday – time enough for negotiations. …

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