Greek PM to resign Update: Not going to resign

The BBC are reporting that the Greek Prime Minister George Papandreou is to offer his resignation to be replaced by a coalition government, led by former Greek central banker Lucas Papademos. It is unclear but seems likely that this will prevent the referendum on Greece accepting the latest deal on its debts. Fortunate that: Nicolas Sarkozy and Angela Merkel could not have pesky Greek democracy getting in the way of their plans could they? Already the European Commission had said that if Greece left the European single currency, it would have to leave the European Union as well. “The treaty doesn’t foresee an exit from the eurozone without exiting the EU,” spokeswoman Karolina Kottova told a briefing in Brussels.

Update: The BBC have just updated their report to say that Greek TV have now announced that Mr. Papandreou has ruled out resigning.

, , , ,

  • DC

    I thought the referendum was a good call simply because the decision the PM has to make and its consequences are genuinely bigger than one man alone can bear and even for that matter one government; also, I like others believed that all things going well the Greeks would approve it anyway.

    The referendum – going one way or another – would at least have bound the people into a shared fate of their own choosing, rather than have something seemingly imposed on them top-down by outsiders or by the political elite of Greece, only to come apart further on down the line.

    Smart move all the same by Papandreou, history shows that people signing off on deals that lock the populace into poverty and oppression are ultimately damned, cursed and exploited by the political opposition, opportunists and of course the electorate.

    ‘Stabbed in the back’ comes to mind, so if the Greek PM is disposed of along with his idea of a referendum – maybe there will be another bunch of ‘November criminals’?

  • thethoughtfulone

    Well at least it’ll be easier to install someone to do the bidding of the capitalist world there than in Libya or Afghanistan.

    But, if there was violence in Greece before it’ll be immeasurably worse now as it becomes increasingly obvious that Greece is no longer under the influence of it’s own people.

    Who knows, if things continue like this economic woes could become the least of the worlds troubles!

  • john

    On Greek tv – He has NOT resigned

  • john

    Interim coalition government for a few monthe until things stabilize has been reξected by the main opposition party Nεα Δημοκρατια

  • Obelisk

    Is anyone else terrified? Lifting my eyes from Greece to view the world around I see the conditions for a perfect storm forming.

    Greece spreading chaos in the Eurozone is dominating the airwaves.

    Rumblings from Israel about an attack on Iran .These rumblings are being ignored right now due to the Greek meltdown dominating the news but it seems something is happening on this front, specifically the Israeli leaders seem to be convinced of the necessity of an attack. Combined with the on-going Arab Spring, the Middle East will explode. And given the region’s critical importance to the global economy…

    The knock on effects on a sluggish American economy will be bad, but the Chinese economy is the elephant in the room nobody seems to be talking about. Apparently the Chinese are the only real engine of growth left in the global economy, but they’ve created a massive speculative bubble in their construction industry that the leadership is frantically trying to bring under control. If that engine suddenly has a blow out, and if all the other nightmarish scenarios come true, we could be on the precipice of something truly truly nasty.

    We have to hope current world leaders are up to the task of preventing this.

    We REALLY have to hope.

  • Mick Fealty

    So it did not happen at all. Anyone seeing a pattern here?

  • re Obelisk’s comment about Israel and Iran, see the following, scary

    I have probably said this before but I have a 20 year old hardback edited by Netanyahu entitled “How the west can win the war against terrorism”. This is his life work

  • Greenflag

    ‘ Is anyone else terrified? ‘

    Yep it’s looking bad -even worse when one reads of the recent increase in the number of newly minted Chinese millionaires and billionaires now seeking ‘longer term ‘ safety and I know this may be hard to fathom in the USA and EU .

    Heres a view of the bigger picture by Niall Ferguson -global historian . He has’nt yet given up the ghost on western civilisation succumbing to the ‘yellow peril ‘ Ironically he places his faith in an eventual rebirth of the west due to two main factors -the Wests’s ‘rule of law ‘ and ‘democratic ‘ values . Well whatever about the former it seems that the west is going under not becuse of it’s ‘democratic values ‘ but because of the triumph of ‘plutocracy ‘ these past 20 years or so and in particular the triumph of chaotic financial capitalism over what appeared to be a failing social democracies .

    As the Tea Partyists shrivel and the OCCUPY Wall St movements grow stronger world wide we may be on the cusp of major shift in electoral politics in the USA and elsewhere . The elected ‘politicians ‘ are seen to have failed not only in their leadership but in their too long dalliance with financial corporations whose interest is not that of ordinary Americans , Englishmen or Germans or Irishmen or even Greeks .

    Have the world’s political leaders run out of time ? With a USA election and French and German elections just over the horizon the room for manouevre has been reduced at just that moment when it needs to be increased . Self political preservation will be the order of the day as one can already see from Mr Berlusconi’s reaction to the increase in Italian bond rates.

  • Cynic2

    He’s an idiot and shows every sign of losing grip on reality as well as power.

    The only way forward now is expulsion. This charade cannot continue

  • Alias

    He has also ruled out a referendum.

  • john

    Trying to work out whats going on here and after several hours of this soap opera it seems to have boiled down to this. Pandreou has said the whole referendum was a bluff to get Samaras to back the government and as soon as Samaras heard this he has more or less told Papandreou to go F##k himself and he wont back anything. LOL and we thought Stormont was childish!!

  • Greenflag

    ‘ LOL and we thought Stormont was childish!!’

    It was and still is but to be fair by that standard then Wall St has been ‘infantile’ and the USA Congress ‘retarded’ in it’s efforts to extricate both the USA and world economies out of the grave dug for both by criminal banksters and plutocrat politicians 🙁

  • Obelisk

    Putting the global economy at risk for a game of domestic political one-upsmanship.

    Is this guy insane?!

  • DC

    Crazy stuff indeed.