[lbo-talk] Bad, bad Mr. Papandreou

Ferenc Molnar ferenc_molnar at hotmail.com
Tue Nov 1 16:01:45 PDT 2011

The hysteria at The Financial Times continues to mount after Papandreou's announcement that his government would hold a popular referendum on the EU's new bail-out.  The Financial Times seems to be echoing with absolute baldness the pro-ECB, IMF, World Bank crowd's contempt for any elected official that might be weak enough to be swayed by their voters: 

“With an irresponsible opposition that is promising Greek voters the moon, it is very difficult to see how this referendum could be won,” added Sony Kapoor, head of Re-Define, an economic consultancy. “The decision is good for democracy but is likely to make the euro crisis worse by heightening uncertainty in this very fragile environment.”


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