Monday, September 19, 2011

Greece at a decision point

by Paul Mason

BBC News

September 19, 2011

The story so far: Greece is in negotiations to get the latest 8bn euros of bailout money agreed in May 2010. It has enough money to last until about 10 October 2011, then civil servants and pensioners do not get paid.

On Friday/Saturday, European finance ministers meet and tell Greece they cannot have any money until they come up with a better austerity plan and better assurances that they will do it.

This just seven days after the Greeks slapped a ludicrously ambitious 2bn euros a year emergency poll tax on every householder, collected via the electricity bills, and the electricity workers said they would refuse to collect it.

Then on Sunday, the Greek Prime Minister George Papandreou turns back in mid-Atlantic from a trip to the United States (I always wanted to see a passenger jet do an Immelmann) and convenes an emergency cabinet which decides… what? (We find out later on Monday, after 15:00 GMT when Papandreou teleconferences with the Troika.)

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