Sunday, November 6, 2011

Papandreou vs. Samaras Deadlock

Samaras really wants Papandreou out before the New Democracy will work together.

Papandreou, however, really wants a new coalition to form before he resigns.

The EU wants to establish rapidly a national unity government to implement a new bailout programme.

It appears to be a deadlock.  Consensus is elusive.  Samaras won't cooperate with the new coalition without G-Pap resigning first.  G-Pap won't resign until new coalition government is formed.

The behind the scenes negotiations/bickering will need to be resolved before, yet another, meeting in Brussells of the 17 euro zone finance ministers on Monday night.

Will Greece end up leaving the euro and go back to the drachma?  It wouldn't solve the current problems.. it would only make them worse, but logic is sometimes thrown out when political tensions are high.

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