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Showing posts with the label Papandreou

Greece Will Form Coalition Government

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Antonis Samara leads New Democracy     08 November 2011 (ATHENS) -- Greek officials will announce the make-up of the interim government on Wednesday. Prime Minister George Papandreou and Antonis Samaras have been in negotiations since Monday. Samaras is the leader of New Democracy , the largest opposition party. The following names could be possible candidates to lead the new government: Lucas Papademos, a former vice-president of the European Central Bank, Nikiforos Diamandouros, Greece's European ombudsman , and Panagiotis Roumeliotis, Greece's representative to the International Monetary Fund. Greece is set to run out of money within weeks. Jean-Claude Juncker, the Eurozone chief, wants the leaders of the two main parties in Greece to sign an agreement committing to the previously agreed upon reforms. Comment – Turbulence within the government has been apparent. The second loan tranche continues to be the source of much debate. Some members of the ruling pa...

Greek Referendum Results in Confidence Vote

01 November 2011 ( ATHENS , GREECE ) -- Greek Prime Minister George Papandreou announced that he would put Greek’s bailout through a referendum. The referendum will allow Greek citizens to vote on whether the bailout will proceed. Papandreou’s announcement has caused members of his party to resign and call for a vote of confidence. The vote will start on Tuesday and end this week. If Papandreou remains in power, the referendum will likely go through. Citizens of Greece have been against the austerity measures required to secure bailout funds from the troika . A recent poll suggested that 59% of Greeks thought the new package would have a negative effect on their country. Among the reasons for voting against the bailout are cuts to pensions, cuts to the public workforce, and increased taxes. Comment – This is not the first time Papandreou has faced a confidence vote. He faced one in June and got through by a narrow margin. If the Prime Minister continues to lose support ...