Friday, June 17, 2011

Greece Replaces Finance Minister

Greece has shuffled its chairs on its sinking ship.

George Papandreou, prime minister of Greece, has replaced his finance minister as part of a broad cabinet reshuffle to counter wide spread anger in the streets over austerity measures called for by the IMF and agreed to by the Greek government.

Former defence minister Evangelos Venizelos, who challenged Papandreou for the party leadership four years ago, will become finance minister, replacing George Papaconstantinou, who takes over the energy portfolio.

Venizelos has no previous experience in a finance job, and is due to participate in his first eurogroup meeting on Sunday.

The Greek government may not realize it but they hold all the cards. The bamksters aren't prepared for a default by Greece at this time and the IMF/EU is likely to give Greece the 12 billion euro payment due, regardless of what austerity Greece agrees to, or doesn't agree to. Down the road things are a bit different, but right now the banksters are not going to allow Greece to collapse.

1 comment:

  1. How the hell does this change anything? Are the people in Greece that stupid to think that the cabinet is actually in charge of the situation? I can see your point about parliament holding the cards (they have to vote for austerity measures after all) but the cabinet maneuver is a charade.