As I discussed before in “Curious, Duplicitous George,” it’s all about politics for George Papandreou. That is, he is a politician and they tend to want to hold on to power. Papandreou’s socialist PASOK party leads a tenuous coalition which started to unravel after he made the deal with the eurozone leaders on a bailout package for [...]
|
“70,000 Greeks Protest Cuts, Clash With Police” The above is the Bloomberg headline for Greece today as the unions called for massive, countrywide strikes to shut down the country in protest of further austerity cuts by the government. The Wall Street Journal is reporting that there are 100,000 protesters. The parliament has to vote on further [...] Greece’s government Sunday acknowledged that it will miss its deficit target this year, as it moved ahead with a controversial plan to slash thousands of public-sector jobs to meet the demands of its international creditors. “I want to repeat that we will be unswerving in our goal: to fulfill all that we have promised [...] Reuters has an excellent summary of the issues the eurozone faces with Greece (Hat tip Zero Hedge). Today at 1:00 p.m. PDT (5:00 eastern) PM George Papandreou faces a no-confidence vote in parliament. It is going to be significant either way. WHAT’S NEXT? * Confidence vote in Greek parliament at 2100 GMT * Representatives from “troika” [...] Socialist George Papandreou This is another sad tale of shooting the messenger. Without fail, governments always blame speculators for their economic woes. I can’t think of a time when that has not occurred. In fact our own government is engaging in the same thing. Speculators are called “wolves,” “jackals,” “parasites,” and even “capitalists” [...] |
|
© 2013 The Daily Capitalist - Nothing in this blog should be considered to be investment advice. The opinions expressed herein are those of the author and not necessarily those of The Daily Capitalist. The Daily Capitalist is published by Montecito Analytics, LLC. All Rights Reserved. |
