Friday, May 27, 2011

Meeting of Greek Political Party Chiefs : No Cohesion

Greek Political Parties: No Cohesion

The meeting held by Greek Prime Minister George Papandreou and the other Greek political parties under the auspices of the Greek President Karolos Papoulias proved fruitless so far since the parties agreed that they disagreed.

During the meeting, protesters in central Athens waved pots and pans similar to the demonstrators of the Argentinian crisis.

Commissioner Olli Rehn expressed disappointment at the floundered meeting but expressed hope that things will shape up and the Greeks will finally unite in supporting the IMF/EU support mechanisms and measures.

European banks hold over 100 billion in Greek bonds; the expectations are that because of the current split in Greek politics, the euro will fall only to regain after the Greek political parties finally reach some sort of agreement.

At stake is the fifth IMF/EU monetary installment which is due in June; Greece has stated that without the installment the country has enough money to last ‘till mid July.

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