Monday, October 31, 2011
What a beautiful black swan!
Greece's prime minister has called a referendum on the new EU rescue package, as a leading economist tells Sky News a no vote would be a disaster for the eurozone. George Papandreou said if the Greek people do not want the deal that is designed to slash the country's mountain of debt by nearly a third, it will not be adopted. He gave no date or other details on the proposed referendum, which would be the first in Greece since 1974. "This will be the referendum: the citizen will be called upon to say a big 'yes' or a big 'no' to the new loan arrangement," he told Socialist members of parliament.