"France and Germany have slapped Greece with an ultimatum, threatening to effectively bankrupt the country unless it agrees to meet the conditions of its bailout and holds the proposed referendum on its status as a euro-zone member as early as possible."
The leaders of France and Germany are very angry with their Greek colleagues. The reason?
Papandreu has dared to say that he will consult its people about the bailout plan. This plan has been designed by the EC, and finally approved in the summit of 27th October.
The plan will affect Greek people for a very long time. Austerity measures will imply important sacrifices, but this is the price to be paid. Commom people, low average earning people will be the most afffected, and it could not be otherwise. They are the most repsonsible for the financial crisis. The only cause of the huge burden of Greece is that the Government had to issue tons of debt for attending their needs, so it's fair this people pay the consequences.
And they do not have to forget that the most important thinkers of EU and the IMF have designed the plan to help them, not the banks or the markets. They are really worried about them, so they have to accept it.
Germany and France respect democracy, of course, so they agree with the referendum, but it has to be called early in December, and with the question "suggested" by Mrs. Merkel:
“Does Greece want to remain part of the euro zone or not?” “That is the question the Greek people must now answer.”
This is not a threat, it is a very helpful advice. Merkel is really very worried abour the future of Greece, there is no other reason for her "advice"
That meanwhile, according to Reuters the €8 bn. aid tranche is not disbursed until the referendum is held is only in the best interest of Greece, to help them to make the right decision:
YES WE ACCEPT ALL THE CONDITIONS
We miss the old times, when the WB and IMF could impose their conditions to many countries, without having to worry about referendums or elections. With Africa it was much easier.
An do not forget:
IT IS FOR YOUR GOOD
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