Greece Update: Papademos Rumored to Be Resigning If Austerity Deal Fails
February 3, 2012
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Europe Update: Greek PM Papademos Could Resign As Early As Monday
According to the report from ZeroHedge, there is a rumor that Greek Prime Minister Papademos could resign today, should further austerity talks fail, which would put the status of the Greek bailout in jeopardy.
Recall that the Troika (ECB/EU/IMF) have demanded that Greece implement further austerity measures in order qualify for the next round of bailout loans. Germany has even gone so far as to propose taking over Greece's finances - a proposal that has met with violent objections from the Greeks.
ZeroHedge notes that according to Skai TV and radio reports, should Papademos' Saturday meeting with former PM and leader of PASOK party George Papandreou, New Democracy’s Antonis Samaras, and Giorgos Karatzaferis of the Popular Orthodox Rally (LAOS) fail to reach a deal, Papademos will tender his resignation on Monday
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