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Thursday, February 09, 2012

Greece Rejects Treaty of Versailles

Unsurprisingly the much hyped, much delayed, meeting yesterday between Greek Prime Minister Papademos and leaders of those parties that are propping up his government failed to agree to the Troika's "Treaty of Versailles".

One sticking point , apparently, was the demand for a reduction in pensions. Finance Minister Evangelos Venizelos heads for Brussels today empty handed.

Another problem is that Papademos has revised his budget targets and only informed the Troika at 6am.

Eurozone officials say that the deadline for Greece agreeing to the Troika's demands is 15 February (so that the necessary paperwork can be completed). Greece, on the other hand, claims that it has been given 15 days to sort this out.

How "ironic", but not surprising, that the Eurozone and Greece cannot even agree on the new "deadline"!

Well, irrespective of which "deadline" is the real "deadline", no one actually believes that either "deadline" will be met.

Here is the draft of the Troika's plan for Greece.

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