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Author Topic: PM George Papandreou cancels US visit  (Read 1761 times)

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Offline Jah Gol

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PM George Papandreou cancels US visit
« on: September 17, 2011, 06:51:16 PM »
Greek Prime Minister George Papandreou has cancelled a visit to the US amid mounting concern over the country's debt crisis.

His office said he had decided to return as "next week is particularly crucial" in efforts to secure the country's next bailout loan.

Greek media said he took the decision after consultations with Finance Minister Evangelos Venizelos.

Mr Papandreou had planned to attend UN General Assembly and IMF meetings.

The decision comes a day after eurozone ministers delayed a decision on releasing more money to Greece.

Eurozone leaders will now decide in October whether to release the next 8bn euros ($11bn; £7bn).

The BBC's Chris Morris says there are different views within the zone about whether Greece has done enough to deserve further loans.

'Fiscal measures'
Mr Papandreou was on his way back to Greece from London after cancelling his onward trip to New York, media reports said.

"The prime minister had decided to postpone his planned visit to the United States because next week is particularly crucial for addressing the decisions taken on 21 July in the eurozone and for the initiatives that Greece must take," a statement from his office said.

Eurozone leaders decided on a second bailout of 109bn euros for Greece at a Brussels meeting in July. It is still receiving the initial 110bn-euro bailout, agreed in May last year, in tranches.

An official said Mr Papandreou cancelled the visit to focus on fiscal measures which were key to securing the loans.

"The prime minister judged that he should not be away. He wants to ensure that all of Greece's commitments [to its EU partners] are fulfilled," government spokesman Ilias Mossialos told Reuters news agency.

October's loan decision will be based on assessments by the three lenders, the European Commission, the IMF and the European Central Bank.

There are concerns they may rule that Greece has fallen behind on its spending cuts targets - the government was forced to introduce a property tax amid fears prompted by the recession that it would miss its target of capping its budget to 7.6% of GDP.

Mr Venizelos is expected to hold a teleconference with the three lenders on Monday.

Demands that Greece accelerate its austerity plans, and divisions among governments and policymakers over support for indebted eurozone members, have sparked turmoil in the financial markets.

But the head of the Eurogroup of ministers, Jean-Claude Juncker, said Greece was making "significant progress" and welcomed Athens' commitment to the austerity programme.

http://www.bbc.co.uk/news/world-europe-14960216

Offline asylumseeker

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Re: PM George Papandreou cancels US visit
« Reply #1 on: September 17, 2011, 08:38:09 PM »
Is there an extrapolation here tied to the PM, the SOE and presentation on government business overseas :)?

Offline Jah Gol

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Re: PM George Papandreou cancels US visit
« Reply #2 on: September 17, 2011, 09:12:51 PM »
Is there an extrapolation here tied to the PM, the SOE and presentation on government business overseas :)?
In a word, yes.

The Greek PM has made a decision to prioritize domestic affairs during a very critical period for his country. I admit that I'm not familiar with Greek politics but I think most would find this decision reasonable.

Conversely our PM has declared a State of Emergency amid a 'national security threat' yet has no problem leaving the country during this time of supposed crisis.   
« Last Edit: September 17, 2011, 09:23:20 PM by Jah Gol »

Offline Bakes

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Re: PM George Papandreou cancels US visit
« Reply #3 on: September 17, 2011, 09:16:58 PM »
In a word, yes.

The Greek PM has made a decision to prioritize domestic affairs during a very critical period for his country. I admit that I'm not familiar with Greek politics but I think most would find this decision reasonable.

Conversely our PM has declared a State of Emergency amid a 'nation security threat' yet has no problem leaving the country during this time of supposed crisis.   

I think yuh being harsh on Kamla, Labor Day was two weeks ago... fall fashion season done start and she eh get ah chance tuh model de new stocks yet.

Offline Jah Gol

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Re: PM George Papandreou cancels US visit
« Reply #4 on: September 18, 2011, 04:57:13 AM »
 :rotfl: I didnt take all that into consideration.

Offline asylumseeker

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Re: PM George Papandreou cancels US visit
« Reply #5 on: September 18, 2011, 10:09:57 AM »
The opposing view would probably seek to distinguish the governing circumstances in which both PMs are operating. Papandreou is between a rock and a hard place. Our PM is in a situation with considerably more cushion.

That stated, Jah Gol don't find your assessment untenable.

Offline Jah Gol

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Re: PM George Papandreou cancels US visit
« Reply #6 on: September 18, 2011, 10:35:56 AM »
The opposing view would probably seek to distinguish the governing circumstances in which both PMs are operating. Papandreou is between a rock and a hard place. Our PM is in a situation with considerably more cushion.

That stated, Jah Gol don't find your assessment untenable.
You're correct except that's that not what the government sold us.

Offline Bakes

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Re: PM George Papandreou cancels US visit
« Reply #7 on: September 18, 2011, 01:51:13 PM »
The opposing view would probably seek to distinguish the governing circumstances in which both PMs are operating. Papandreou is between a rock and a hard place. Our PM is in a situation with considerably more cushion.

That stated, Jah Gol don't find your assessment untenable.

Rock and a hard place though it may be... a financial crisis pales in comparison to a purported nationwide crime/public safety crisis.  But why let that get in the way of a little holiday or foreign junket?

Offline asylumseeker

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Re: PM George Papandreou cancels US visit
« Reply #8 on: September 18, 2011, 02:40:19 PM »
In the interest of clarity: I'm referring not to the financial crisis per se, but to the limited political and electoral capital available to Papandreou since handed the lifeline when he survived the vote of no confidence. For all intents and purposes, our PM retains a quantum of political insulation that, despite discontent in some sectors, remains unexploited as an electoral vulnerability.

I'm not an expert on Greek politics either, but I've been attentive to the implications of what follows re: Europe and integration. There is definitely ammunition provided for those who have stood in opposition to instituting a common currency in CARICOM. The other matter provoking my interest is that I had the good fortune of being a student of someone recognized as a Greece expert. He didn't shy from sharing opinions when engaged.

There is one other dimension that has peaked my curiosity, and that deals with Greeks in the diaspora ... oops ah lie ... plus Ariana Huffington is a cerebral cutie ... Ah hadda be ready to slay that Goliath should the opportunity ever present itself.  LOL.

Offline Bakes

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Re: PM George Papandreou cancels US visit
« Reply #9 on: September 18, 2011, 08:37:26 PM »
In the interest of clarity: I'm referring not to the financial crisis per se, but to the limited political and electoral capital available to Papandreou since handed the lifeline when he survived the vote of no confidence. For all intents and purposes, our PM retains a quantum of political insulation that, despite discontent in some sectors, remains unexploited as an electoral vulnerability.

I'm not an expert on Greek politics either, but I've been attentive to the implications of what follows re: Europe and integration. There is definitely ammunition provided for those who have stood in opposition to instituting a common currency in CARICOM. The other matter provoking my interest is that I had the good fortune of being a student of someone recognized as a Greece expert. He didn't shy from sharing opinions when engaged.

There is one other dimension that has peaked my curiosity, and that deals with Greeks in the diaspora ... oops ah lie ... plus Ariana Huffington is a cerebral cutie ... Ah hadda be ready to slay that Goliath should the opportunity ever present itself.  LOL.

Come nah man...

Offline asylumseeker

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Re: PM George Papandreou cancels US visit
« Reply #10 on: September 18, 2011, 09:44:54 PM »
Good catch, counselor.

'Ariana' should also have been 'Arianna'.
« Last Edit: September 18, 2011, 09:49:37 PM by asylumseeker »

Offline Bakes

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Re: PM George Papandreou cancels US visit
« Reply #11 on: September 18, 2011, 09:49:38 PM »

Offline asylumseeker

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Re: PM George Papandreou cancels US visit
« Reply #12 on: November 03, 2011, 06:02:48 AM »
Papandreou is ill-advised for having made an already tenuous situation even more tenuous. He has forced a no confidence vote yet again, fostered new political enemies, alienated allies, pissed off Merkel and Sarkozy, placed in jeopardy $11 billion that was on the table, diminished his reserve of residual credibility, toyed further with Greece's already tarnished standing nternationally ... so many things ... he deserves a firm heavy-handed clout. Several in fact.
« Last Edit: November 03, 2011, 06:11:35 AM by asylumseeker »

Offline pecan

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Re: PM George Papandreou cancels US visit
« Reply #13 on: November 03, 2011, 07:03:02 AM »

News reports are saying he is about to announce his resignation.
Now faith is being sure of what we hope for and certain of what we do not see.

 

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