The Greek Prime Minister George Papandreou has asked Greeks to support further austerity measures or the country will face a “catastrophic” default.
“The consequences of a violent bankruptcy or exit from the euro would be immediately catastrophic for households, the banks and the country’s credibility,” said Papandreou as he appealed to the opposition to support him in a confidence vote, while addressing the Greek parliament, Reuters reported.
I love that he said that. It will be catastrophic for households (which the austerity measures are anyway), for the banks (great) and the country’s credibility (…? huh?). Yes, I would vote my confidence in him to do exactly what the banks want him to do.