An end to uncertainty? When you are between a rock and a hard spot, your choices are limited.
Papandreou is speaking to Parliament, says Greece must adopt the EU bailout deal.
The confidence vote is to be taken shortly. As to what happens next......
Greece in on the verge of bankruptcy, with limited funds available. Will the EU release the 8 Billion on hold now?
With Greece at the brink of bankruptcy, with a vital 8bn euro loan tranche on hold, and with Greece’s participation in the eurozone in the balance, a number of Pasok MPs in statements throughout the day said their “yes” vote is contingent on a prior firm commitment by Papandreou that he will step aside in favour of a national salvation government.
I spoke with my family in Greece today, who had been in negotations to purchase a business. They now say they are in a holding pattern.
They say that Greece does not seem to have any good options, that it has been a state of limbo in Greece this week. And it seems that there is more craziness to come.
The people are really angry. When they go out it is all anyone talks about.
Not to go bankrupt, to stay in the EU, to avoid civil strife.....
The austerity measures that have been forced on Greeks have been painful and there may be more to come.
Everyone is anxious about whether Greece can survive the turmoil. It will not be easy. Common sense dictates the formation of a transition government which will, over the next few months, make sure that we don’t go bankrupt, that we don’t leave the eurozone, and that we don’t slide into civil strife.
http://ekathimerini.com/...
Will Greece be able to pay their bills this month with income and cash reserves smaller than expected?
It is certain now that Greece will fail to meet the revised budget target of 51.5 billion euros by the end of the year.
The inadequate revenues collected in October means that in order to meet the budget, the Finance Ministry would need to bring in 12.4 billion euros for the remainder of 2011, or 6.2 billion per month. In the last five years the state has not once managed exceed 5.5 billion euros in net revenues per month. State revenues in October came to 4.2 billion euros, 6.9 percent less than the same month last year. In the first 10 months revenues added up to 38.17 billion euros, down from 40.98 billion in the same period last year. This development is exacerbating the problems that have emerged this week now that the disbursement of the sixth tranche of the Greek bailout has been frozen. Cash reserves will be even smaller than expected, putting at an immediate risk the payments that are due this month.
http://ekathimerini.com/...
4:10 PM PT: Prime Minister George Papandreou wins by 153 in confidence vote.