The Tundra Tabloids’ prediction; the Greeks will opt for the Drachma, refuse to cut back on the public sector, with big unions busting the governments chops at every turn and will never break free from their socialism until their is major civil unrest, even all out violence. Years of socialism has corrupted the land and turned the people into a whole class of whiners dependent upon the government for everything. KGS
Greece Considers Exit from Euro Zone
By Christian Reiermann
A protest against austerity measures in Athens. Greece is considering leaving the euro zone, according to sources in the German government.
The debt crisis in Greece has taken on a dramatic new twist. Sources with information about the government’s actions have informed SPIEGEL ONLINE that Athens is considering withdrawing from the euro zone. The common currency area’s finance ministers and representatives of the European Commission are holding a secret crisis meeting in Luxembourg on Friday night.
Greece’s economic problems are massive, with protests against the government being held almost daily. Now Prime Minister George Papandreou apparently feels he has no other option: SPIEGEL ONLINE has obtained information from German government sources knowledgeable of the situation in Athens indicating that Papandreou’s government is considering abandoning the euro and reintroducing its own currency.
Alarmed by Athens’ intentions, the European Commission has called a crisis meeting in Luxembourg on Friday night. The meeting is taking place at Château de Senningen, a site used by the Luxembourg government for official meetings. In addition to Greece’s possible exit from the currency union, a speedy restructuring of the country’s debt also features on the agenda. One year after the Greek crisis broke out, the development represents a potentially existential turning point for the European monetary union — regardless which variant is ultimately decided upon for dealing with Greece’s massive troubles.