Samaras Refuses to Commit to Deal in Writing

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Antonis Samaras, Leader of New Democracy
23 November 2011

(ATHENS, Greece) – Antonis Samaras, the leader of the New Democracy party, has refused to put his commitment to austerity measures in writing. European leaders have requested the new Greek government reaffirm their commitment to the agreed upon plan in writing. Samaras stated that his verbal agreement is enough of a commitment. It is likely that Samaras is attempting to distance himself from the unpopular cuts. Greece is set to run out of money in 20 days and begin defaulting on €2.8 billion in bond payments. The government will be unable to pay salaries and pensions without the delivery of the next loan tranche.

Comment – The majority party, PASOK, has been losing support from the public since the beginning of the financial crisis. The agreement in place with the troika, for Greece’s bailout funds, is unpopular but necessary. There is not enough time to come up with an alternative solution before Greece runs out of money. If Samaras’ party gains momentum, it could take control of the government in February. Future loan tranches will likely be in jeopardy if his government does not follow the bailout deal in place.

Source:
http://www.irishtimes.com/newspaper/world/2011/1123/1224307999110.html

Reliability: 7

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