G-Pap Demands Referendum To Rescue Plan, Seems Set To Throw In The Towel

Tyler Durden's picture

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.