Monday, 31 October 2011

Greece Calls A Referendum

On top of soaring unsustainable Italian bond yields today, we also have the Prime Minister of Greece, George Papandreou, announcing a referendum on the new EU aid package:

"We trust citizens, we believe in their judgement, we believe in their decision," he told ruling socialist party lawmakers.

Nearly 60 percent of Greeks view Thursday's EU summit agreement on a new 130 billion euro bailout package as negative or probably negative, a survey showed on Saturday.

Ha ha cats and pigeons spring to mind. The markets will likely go mad tomorrow. Also adds extra pressure onto Cameron regarding a referendum - this EU issue is not going away is it 'call me Dave'?


  1. TBF, Unfortunately Cameron does not share the same beliefs as Papandreou - especially the last one!