Greece

Papandreou faces new challenge


Published

Prime Minister George Papandreou faces a new challenge on 28th June when he will seek to push through a vote in parliament that will lead to €28 bn budget cuts and tax rises along with a €50 bn sale of government assets.

The vote will decide whether Greece gets its next €12 bn tranche of a €110 bn bailout from the European Union and IMF. If it does then it will be able to avoid bankruptcy in July.

Antonis Samaras, leader of the main opposition party, New Democracy, has said that they will not support the vote. Germany has already indicated that if there isn’t broad political consensus in Greece for the bailout measures then it would not support further support.

This means that Greece is far from moving forward and the political climate may well bring the whole package down; that in turn may well lead to new elections. However, the protests that have been running for weeks across Greece do not suggest that any party has the support of the people, with many protesters angry with all politicians and blaming them for the state of the nations finances.

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