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Sat, Feb 11 2012
Greek PM warns tomorrow will be 'too late' to act on debt
Greek prime minister George Papandreou.
Photo: Vasilis Filis
European leaders are increasing pressure on Greece to slash its debt before the country's financial crisis sparks even bigger problems. Now, Greek Prime Minister George Papandreou is urging lawmakers to act quickly and forcefully. The situation has the attention of some top U.S. officials.
Talk of more cutbacks in Greece has not gone smoothly, with thousands of Greeks protesting the proposed austerity measures this week on the streets of Athens.
On Friday, Greek Prime Minister George Papandreou told lawmakers the time for drastic action is now because "tomorrow it will be too late." "If we don't make deep cuts today, tomorrow the crisis will once more choke this country, and once again the people will be forced to pay for previous mistakes," he said.
He said without deep cuts the crisis will choke the Greek economy.
He also called for more support from Europe. "We are asking for solidarity from the European Union, just as they are asking that we meet our obligations to put this country in order. We will respond, whatever the cost and no matter how painful it will be for us, but in the most fair way. And we will ask for solidarity, and I believe we will get it," he saID.
Mr. Papandreou asked for the European Union to be fair and show solidarity.
But the situation is tense. EU experts visiting Greece this week said the country must do more to rein in its crushing debt. And many officials blame Greece's problems for pushing down the value of the euro.
Some officials have even suggested the euro monetary system could collapse if Greece defaults on its debts.
There has also been no official word on any sort of European aid package.
Following a meeting with the Greek prime minister Friday, the chief executive of Germany's private Deutsche Bank was evasive. "No, I am regularly in Greece because I love Greece, beautiful weather, and then I normally see clients and government officials," he said.
When reporters asked about possible help…"No comment. No comment," he said.
The Greek crisis also has the attention of top officials in the United States.
Central bank chief Ben Bernanke, has told lawmakers some private banks may have helped Greece hide the severity of its problems. "We are looking into a number of questions related to Goldman Sachs and other companies in their derivatives arrangements with Greece," he said.
He said several agencies are investigating. "Obviously, using these instruments in a way that potentially destabilizes a company or a country is counterproductive," he said.
Bernanke also expressed concern about the possible impact of investment instruments that bet Greece would default on its debt.
Source: Voice of America
Talk of more cutbacks in Greece has not gone smoothly, with thousands of Greeks protesting the proposed austerity measures this week on the streets of Athens.
On Friday, Greek Prime Minister George Papandreou told lawmakers the time for drastic action is now because "tomorrow it will be too late." "If we don't make deep cuts today, tomorrow the crisis will once more choke this country, and once again the people will be forced to pay for previous mistakes," he said.
He said without deep cuts the crisis will choke the Greek economy.
He also called for more support from Europe. "We are asking for solidarity from the European Union, just as they are asking that we meet our obligations to put this country in order. We will respond, whatever the cost and no matter how painful it will be for us, but in the most fair way. And we will ask for solidarity, and I believe we will get it," he saID.
Mr. Papandreou asked for the European Union to be fair and show solidarity.
But the situation is tense. EU experts visiting Greece this week said the country must do more to rein in its crushing debt. And many officials blame Greece's problems for pushing down the value of the euro.
Some officials have even suggested the euro monetary system could collapse if Greece defaults on its debts.
There has also been no official word on any sort of European aid package.
Following a meeting with the Greek prime minister Friday, the chief executive of Germany's private Deutsche Bank was evasive. "No, I am regularly in Greece because I love Greece, beautiful weather, and then I normally see clients and government officials," he said.
When reporters asked about possible help…"No comment. No comment," he said.
The Greek crisis also has the attention of top officials in the United States.
Central bank chief Ben Bernanke, has told lawmakers some private banks may have helped Greece hide the severity of its problems. "We are looking into a number of questions related to Goldman Sachs and other companies in their derivatives arrangements with Greece," he said.
He said several agencies are investigating. "Obviously, using these instruments in a way that potentially destabilizes a company or a country is counterproductive," he said.
Bernanke also expressed concern about the possible impact of investment instruments that bet Greece would default on its debt.
Source: Voice of America
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My paternal line comes from the mijaks and I did Ydna analaysis to shed some line on their origine. My family has bulgarian macedonian self identification. The genetic evidence sugest very old non slavic origine. my email is svet23@yahoo.com it will be of interest to find out more about mijaks
This comment has been removed by the moderator because it contained off-topic content
The letter with 233 academic signatures was actually sent to the wrong person, as the President will merely send it on to the State Department for a "warm words" reply that says precisely nothing. If you want ACTION, re-issue it and send it to whichever US Congressman heads the Greek-American "caucus" on Capitol Hill. That is how to get things started under the US political system, not a letter to the President.
That said, the Macedonians have a right to their name under UN law AS LONG AS they undertake to respect all existing frontiers (with [...]
Read the full comment no more talk of "2013"), cease other provocative acts such as airport names and statues, and find some other national emblem other than the Star of Vergina (they had a perfectly useable national emblem in the Lion of Macedonia from 1597 to 1945, so why not use that instead ? It's very like the Czech lion, but the Czechs never objected.)
Scipio Africanus,I would have more respect for you if you can stop your Bulgarian mentality about Macedonia being Bulgarian. Unfortunatly the Greeks have same claim.On Greeces financial problems are evident even in the USA with Goldmen Sachs being investigated by the federal gov. Greece paid no attention to their finances since Mitsotakis was in power,you remember the garbage bags?.I said it before,Greeces politicians are more interested for their own skin than the people they represent.Greece has agreed to purchase from France new equipment for their army in the tune of 4 to 14 billion dollars just for the support on [...]
Read the full comment the name issue with Macedonia.Greek politics serves only the politicians for re-elections and not because it is the right thing to do for the people of Greece. I feel sorry for the people in Greece as it effects the indigenouse Macedonians as well, and it does not stop there,it effects its neighbours,and all the EU and all the way to USA.
Mijaks or Mijaci are of slavic souche mostly nomadic tribes CAME IN THE AREA ABOUT THE 5 OR 6 CENTURY AD,have nothing to do with ancient Macedonians, after some time settled and became involved with agriculture culture.
ISTINATA POBEJDAVA.
I agree with Peter on the "pure ethnicity" point - this is too reminiscent of Hitler's Nazi "herrenvolk" to be comfortable. But Digna has a very interesting point about the 'Mijaci' being the survivors of ancient Macedon. Are they by any chance Illyrians, or part of an older population (presumably non-Hellenic) ?? I would genuinely like to know.
As regards Basescu, as one who has spent a great deal of time in Romania and Moldova rather recently - I would counsel that a great deal of care is required before trusting a Romanian with anything more [...]
Read the full comment than your tram ticket. The Moldovans are rather better, but tend to be very glum. (This may have been rather my own fault, as I found it easier to speak Russian with them than Romanian, in order to avoid misunderstandings of the more costly sort. That said, Chisinau is a safe city to walk around at night. This most definitely cannot be said about Bucharest.)
I have the << gloomy satisfaction of being proved right >> about all this.
I said it would happen (on this site) over 15 days ago, and nobody believed me then.
Wrong!
It is never to late for good pratice!