Greece’s prime minister abandoned his explosive plan to put a European rescue deal to popular vote Thursday, keeping his government alive â€” but passionate squabbling in Athens left the country’s solvency in doubt and the eurozone in turmoil.
Papandreou sparked a global crisis Monday when he announced he would put the latest European deal to cut Greece’s massive debts â€” a hard-fought accord that took months of negotiations â€” to a referendum. The idea horrified other EU nations, Greece’s creditors and financial markets as investors fretted over the prospect of Greece being forced into a disorderly default.
Reminds me of our twice over TARP vote. So much for democracy, the moneyed interests win again, maybe..