Referendum for new crisis

Article published on Nov. 14, 2011
community published
Article published on Nov. 14, 2011
By Darko Kazankov in Skopje, B.Sc.Economist Greece shocked Europe and the world with the statement of Prime Minister George Papandreou of Greece to organize a referendum on the credit line of 8 billion euros from the EU that halving the debt of indebted Greece. This announcement caused shock, disbelief, panic of European politicians.

French President Nicolas Sarkozy, left shock and wonder after the announcement of a referendum by George Papandreou on the latest anti-crisis plan. Le MOND Paris writes that Prime Minister of Greece, Papandreou was the victim of an internal rebellion in the ruling PASOK party. Nobody knows how Greece will live without assistance until the organization of the referendum, if he be held at.

Greece as a country is faced with 2 possible scenarios for the referendum on the plan to rescue the country and its economy grade papers in Athens. The first scenario, which is considered viable Probably provides Papandreou's government to hold a referendum on a plan that would be held during the month of January, even after you complete the procedure on setting determining the arrangements for the participation of private investors in voluntary debt relief and payment of aid to Greece in the second EU rescue plan for the country.

The second possible scenario is less likely that states that after the contract for repayment of debt during the month of December, the government submitted to parliament a draft law to be passed by an absolute majority, after which a referendum would be for the law.

The chaos of the stock market begins to mirrors among politicians in Greece and Europe. In Athens, not only led opposition New Democracy, but members of the ruling PASOK opposed Papandreou indecent proposal. Even MP Milena Apostolaki renounced membership in the caucus as a revolt of the procedure of Papandreou. With this act the government parliamentary majority Papandreou declined to 152 out of 300 MPs, ahead of key vote of confidence.

On the other hand, the leader of the largest opposition party New Democracy Antonis Samaras rejected a proposal to hold a referendum proposed by Papandreou called forearly elections of emergency. After initial surprise decision to hold a referendum in Greece, the EU reacted in order to defuse the tense situation already in the country. In a joint statement by the President of the EU Council, Herman van Rompuy and European Commission President Jose Manuel Barroso told that the phone has contacted Greek Prime Minister and that they are informed about his decision.

Source: Reuters