It's clear that this latest shock out of Greece makes little sense UNLESS of course Papandreou and his cronies have decided that they don't like the latest deal announced last week and WANT to default. We all know how the Greeks will vote in a referendum........
If the theory holds true, Papandreou could claim the 'will of the people' and refuse the deal. Now, if Papandreou plays his cards well he could in fact force Germany's hand and wrench a full amnesty on all Greek debt at the eleventh hour. It's no secret that export-driven Germany and France need the captive EU market.
All hail Greece; who would have thought...
If the theory holds true, Papandreou could claim the 'will of the people' and refuse the deal. Now, if Papandreou plays his cards well he could in fact force Germany's hand and wrench a full amnesty on all Greek debt at the eleventh hour. It's no secret that export-driven Germany and France need the captive EU market.
All hail Greece; who would have thought...
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