It appears the Greek leader has had it, and is officially throwing in the towel, leaving his citizens to tell Europe to shove their perpetual bank rescue plan, via Bloomberg:
- PAPANDREOU SAYS NEW GREEK PLAN MUST BE PUT TO REFERENDUM
- PAPANDREOU SAYS GREEKS CALLED ON TO CHOOSE ON COUNTRY'S COURSE
- PAPANDREOU SAYS CALLS FOR VOTE OF CONFIDENCE ON POLICIES
- PAPANDREOU SAYS GREEK DECISION WILL BIND ALL POLITICAL PARTIES
- PAPANDREOU SAYS REJECT ELECTIONS AT THIS TIME
Naturally, with scenes like this one from last week, don't expect a glowing Greek endorsement of abdicating national sovereignty to the European superstate. In fact, expect the opposite. And with that, preparations for a Greek exit from the Euro and Eurozone begin in earnest. Needless to say, Deutschland is not too happy.