Today's Coming Crisis Movie

Friday, November 4, 2011

Merkel threat to Greece: We'll kick you out of EU if you hold referendum.. Is this how they Changed Slovakia NO Vote to a Yes in less than 24 Hours?

Greece was threatened with expulsion from the European Union for at least a decade if it dared to press ahead with a referendum on the single currency rescue deal, it emerged last night.

On a day of drama worthy of the Greek stage, prime minister George Papandreou hovered between defying Brussels, resigning and forming a new government of national unity.

A vote of confidence, expected tonight in the Greek parliament, could yet see the present government collapse.

Last night it was still not entirely clear what the Greek government has decided to do – though it is certain that Mr Papandreou has been cowed into calling off his proposed referendum.

Extraordinary details then emerged of how German Chancellor Angela Merkel threatened the Greeks not only with an end to bailout cash and ejection from the single currency, but also expulsion from the EU for at least ten years.

But hopes in Brussels that a new coalition government led by someone other than Mr Papandreou could be installed were scuppered when the opposition insisted it would not join such an administration and instead demanded elections within six weeks. Read More