It is a quite incredible twist in events that has seemingly stolen from the jaws of an improbable victory, a catastrophic defeat for Greece.
The latest EU bail-out deal was probably as good as Papandreou could've hoped for. It would've meant a 100bn-euro loan to Athens and a 50% debt write-off of its current debts. But of course, the problem with that is the planned austerity measures that go hand-in-hand with this financial support. The cuts in pensions and public sector wages and the lay-off off thousands of workers has understandably caused an angry response from the populace to these measures that have already gone before and those that lie ahead if this additional package were accepted.
|Papandreou: On a wing and a prayer?|