Greece and the Military

Daily Mail: Reports that the Greek Defence Minister has sacked his service Chiefs. Was there a coup in the works folks, hard to think that could be true, this is 21 Century and the last time I looked Greece was in the EU. Thus why the sackings, very curious, the rumour that there would be no referendum seem to have been just a rumour, thus far and its early folks, the Greek PM is still in Office, let see what happens tomorrow. Then we have the Friday no confidence vote, lets see if the Greek Government can get through that, its interesting times if your Greek, heartburn if you are in Paris, Berlin and London. Lets see if democracy wins out against the elite of the EU. In many respects if there is a referendum in Greece the Greek people will have the fate of the Euro in their hands.

No Referendum for Greece ? - Eurozone Crisis

Guardian Live: Reports on a rumour form Athens, Greece that the proposed EU referendum will not go ahead after all in Greece. If this true folks then PM Papandreou would have to resign, you cant make a statement that there will be a referendum and the go back on it the following day. If true its shameful, it would mean democracy is dead in Greece, one can postulate that EU through Germany and France have placed pressure on Greece to change its mind. In effect Athens would be run from Berlin and Paris, Greece in effect would no longer exist. Sad end to the Country that gave us Democracy.

Greek PM on the BRINK - Eurozone Crisis

The New York Times: Reports that the Government of Greek PM George Papandreou could lose a no confidence vote on Friday. It seems what ever the result it will be a disaster for the EU deal folks, if a Referendum is passed then the Greek people will say NO, if the new Government is formed it will want fresh talks on the EU deal. This has not gone down well with other EU Countries. The result is up in the air folks, one can postulate that the ruling Pasok Party would rather have a referendum and lose that, that have a General Election and be out of power. It was a bold move by the Greek PM, will it works folks, well that’s for the Olympic Gods, but one has a sneaky respect for the this political gamble.
　

Greek Crisis - Eurozone

Telegraph Live: Reports that the embattled Greek PM George Papandreou is holding an emergency Cabinet Meeting after his statement that Greece would hold a Referendum on the EU Deal. The Greek PM wants to hold on to his job, any early election he and his Party are toast, thus it can be postulated given the present information that he should get the Referendum through the Greek Parliament. Then the fun starts folks, the EU will do its nut, try subvert the Greek system to get a YES vote without actually looking like they trying to subvert Greece. What would the ancient Greeks have made of it folks, might they have thought, “ this Democracy lark is it really a great idea ”, the people having the final say, what about the high and might elite of the EU, they are more important the great unwashed.

Greek Referendum and the Greek PM

BBC News: Reports that the Greek PM George Papandreou faces a revolt in his own Pasok Party over the call for a Referendum on the EU deal. One can see why folks, his MPs are voted for the austerity package and now they see their leader covering his own back with a Referendum call. The Greek Opposition is opposed to a Referendum but its not going to go in to a General Election calling for Austerity plus are they, that would be political foolish. The Stock Markets all over the world have nosedived as predicted last night, thus what of the EU deal of last week, its on life support folks, if Greece defaults then major French and German banks will be hit, this will invoke default insurance around the world, thus pushing the Western economy over a big cliff. Then there is Italy, if that goes down the toilet its goodbye Euro even the EU folks.

G20 and Greece

Guardian: Reports that the G20 meeting in France has a new problem with the announced referendum in Greece, the plan to increase the stability fund is a victim, the article states the following, “ ..The prospect of a Greek referendum is likely to undermine efforts to forge an agreement. ”. The Markets should nosedive tomorrow folks, the Asian Markets didn’t look good early on, the cost of Italian bonds will go higher, there will be calls from the left and their friends in the media for the austerity packages being followed in the EU to be dumped, they want more spending. In other words folks the embers of the Euro crisis have just gotten hotter, and its down Trojan horse of Greece. You have to love the Greeks, if not their horse!

Italy in the Spotlight Part Three - Eurozone Crisis

Telegraph: Reports the following on the Italian crisis, “ ..the toxic mix of likely recession and discredited leadership is bringing the crisis to a head. ”. Thus folks the contagion has moved form Greece to Italy, the cost of Italian bonds have gone above 6% for a ten year bond, this is seen as pushing Italy near to the cliff. The news that Greece will hold a referendum will make the Italian crisis worse, there will be calls in Italy for new elections or a referendum of the EU deal. The public sector has to much to lose folks, thus expect Italian bonds to go through the roof, Germany and China will not bailout Italy, the costs would damage them, thus Spain to be the next to fall folks, high unemployment and debt in the private and public sector, the dominoes are ready to fall folks.

Greek Referendum Vote - Eurozone Crisis

BBC News: Reports that the Greek PM George Papandreou has announced a referendum on the new EU deal for Greece. This blog would very surprised if the Greek people approve the deal, the Greek people it can be argued would better off defaulting, getting their own currency back, being in charge of their own destiny. The elite of EU might get a nasty shock, DEMOCRACY in action, the Country that gave the world democracy might teach the EU that at the end of the day you have to carry the people, not the political or medial elite but the people. Go on Greece show the world the path, reject the EU deal.