Have nothing to do with the [evil] things that people do, things that belong to the darkness. Instead, bring them out to the light... [For] when all things are brought out into the light, then their true nature is clearly revealed...

-Ephesians 5:11-13

Tag Archives: George Papandreou

The Eurozone Continues to Unravel

CONSTANTINE PALACE, STRELNA. Italian Prime Min...

With Greece’s Prime Minister George Papandreou agreeing to step down in order to secure more bailout funds from the ECB, attention turned immediately to Italy’s financial problems that dwarf those of Greece’s. The Greek PM’s decision now clears the way for an interim government to agree formally to the new austerity measures demanded by the European Union as a condition of receiving additional financing by the end of the month. Those funds are needed to pay Greece’s bills through January 2012.

The bond market shifted its attention to Italy on Monday, driving interest rates on its 10-year bond to a record-high 6.66 percent, the highest since the country entered the union in 1999 and perilously close to

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Greek PM Throws Monkey Wrench into Eurozone “Deal”

George Papandreou

Prime Minister George Papandreou’s surprise call for a referendum on the new austerity measures demanded by last week’s eurozone “deal” caught everyone off guard, including his own finance minister. Analysts immediately accused Papandreou of seeking political cover for the increasingly unpopular increased austerity measures to be imposed as a condition for the next insertion of funds from the International Monetary Fund (IMF) in two weeks. Knowing that citizens would likely vote against the measures if given the chance, the PM could then pass the blame for failure onto the citizens, leaving himself and his party, the Panhellenic Socialist Movement (PASOK), absolved from blame as the new measures failed.

With polls showing 60 percent of the populace opposed to further measures, George Kristos, a political analyst, said that

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Greek Prime Minister’s Promises Ring Hollow

George Papandreou, President of PASOK.

Image via Wikipedia

Prime Minister George Papandreou’s speech on Saturday evening in Thessaloniki was designed to reassure not only his Greek citizens that all would be well but also that those holding Greek sovereign debt would be getting their money back. The government’s top priority, he said, is “to save the country from bankruptcy.”

Said Papandreou: “We have taken the decision to fight to avoid a catastrophe for our country and its citizens: bankruptcy. We will remain in the Euro. And this meant and means difficult decisions…. If this year

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Greek Austerity to Be Enforced German-Style

Steel workers protest in Berlin in front of th...

Image via Wikipedia

Eurogroup President Jean-Claude Juncker said in an interview over the weekend that the austerity measures being imposed on Greece in exchange for additional bail-out funding from the IMF will result in “the sovereignty of Greece [being] massively limited.” He added, “One cannot be allowed to insult the Greeks. But one has to help them. They have said they are ready to

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Austerity Measures: Greek Entitlement Mentality Faces Reality

Support the greek resistance

Image by Libby via Flickr

The austerity measures being debated in the Greek parliament are being met with resistance not only by the opposition party but by those most directly affected: Greek workers. At least 20,000 people have begun a 48-hour general strike, bringing to a halt most airlines and public transportation. Even workers at the state-owned monopoly, Public Power Corp. SA, are forcing power outages around the country.

Prime Minister George Papandreou has just barely survived a

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Greek Debt Default All but Certain

International Monetary Fund [oct 25]

Image by JavierPsilocybin via Flickr

During his interview with Charlie Rose on Bloomberg TV Monday night, Alan Greenspan, former chairman of the Federal Reserve, commented that the chances of Greece defaulting are “so high that you almost have to say there’s no way out…the chances of Greece not defaulting are very small.”

When Greece accepted the invitation to join the European Union in January, 2001, below-market interest rates allowed Greek banks to

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Greek Austerity, Privatization Programs Won’t Be Enough

George Papandreou

Image by Parti socialiste via Flickr

In its efforts to avoid restructuring (i.e., defaulting on) its debt, Greece announced the sale of some of its assets to raise funds and to satisfy the austerity requirements imposed on the country last March. It is trying to raise $70 billion by 2015. Its efforts won’t be nearly enough.

For sale is the country’s 1/6th interest in OTE, Europe’s largest telecom company, its one-third interest in the Post Savings Bank, all of its interest in the country’s two largest port operators. It will also reduce its ownership shares significantly in

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Many of the articles on Light from the Right first appeared on either The New American or the McAlvany Intelligence Advisor.
Copyright © 2021 Bob Adelmann