Greek PM: Worst Fears Confirmed

27 Feb

Greek Prime Minister George Papandreou told parliament on Friday, after a visit by EU economic inspectors, that the worst fears about Greece’s economy had been confirmed:

“Everything that was revealed after the elections proved that New Democracy (the previous, conservative administration) fled from its responsibilities,” Papandreou said. “History confirmed our worst fears.”

“The damage is incalculable. It is not only financial or fiscal but also affects the position of the state …

“Our duty today is to forget about the political cost and think only about the survival of our country.”

“There is only one dilemma: Will we let the country go bankrupt or will we react? Will we let the speculators strangle us, or will we take our fate in our own hands?” Papandreou said.

“We must do whatever we can now to address the immediate dangers today. Tomorrow it will be too late, and the consequences will be much more dire,” he added.

Leading economists around the world have been warning of dire consequences for the international economy should the Greek debt crisis become a contagion that spreads around the globe.

Yet in Australia, Senator Barnaby Joyce is ridiculed by all and sundry, for daring to warn of the impacts on Australia from this looming international sovereign debt crisis.

A crisis that Barnaby’s esteemed critics cannot see coming. Again.

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