GREECE'S REFERENDUM SITS EURO ZONE ON A HOT PLATE
YOUR WORLD NEWS
Source: CNN
NOVEMBER 2011
3rd Day
The Greek's Prime Minister George Papandreou has expressed optimism that upcoming votes on the austerity measures will pass. Europe has a tremedous task to gain control so it make meet measurements of it's economy without defaulting on loans and monetary matters. With much of the world economy at grips of having the European financial situation to improve, the downfall would hut and effect world nations. Greek authories were informed that Europeans and the International Monetary Fund would disburse a 6th tranche of $8 billion euros. Papandreau answered in a news conference .."If everything goes well in the refrendum, it's quite a few days before the 6th tranche is needed to pay up salaries and pensions and so on." This is also a polictical process as well and the prime minister is hoping to gain some favorable feedback. Favorable the voting would be yes for the refrendum, but if it is no it could send shock waves throughout the global economy. The European Commission President Jose Manuel Barrosso is appealing for national, and political unity saying it would be "critically important to have stability." for the bailout deal to be implemented. Voting on the refrendum is set for December 04, 2011.
"That's it in brief, what a hot plate."
See ya.
Source: CNN
NOVEMBER 2011
3rd Day
The Greek's Prime Minister George Papandreou has expressed optimism that upcoming votes on the austerity measures will pass. Europe has a tremedous task to gain control so it make meet measurements of it's economy without defaulting on loans and monetary matters. With much of the world economy at grips of having the European financial situation to improve, the downfall would hut and effect world nations. Greek authories were informed that Europeans and the International Monetary Fund would disburse a 6th tranche of $8 billion euros. Papandreau answered in a news conference .."If everything goes well in the refrendum, it's quite a few days before the 6th tranche is needed to pay up salaries and pensions and so on." This is also a polictical process as well and the prime minister is hoping to gain some favorable feedback. Favorable the voting would be yes for the refrendum, but if it is no it could send shock waves throughout the global economy. The European Commission President Jose Manuel Barrosso is appealing for national, and political unity saying it would be "critically important to have stability." for the bailout deal to be implemented. Voting on the refrendum is set for December 04, 2011.
"That's it in brief, what a hot plate."
See ya.
What a fine balancing act on Greece's "tight rope" that the EU needs to walk. Even the finest tight rope walkers would have trouble walking it.