InfoAnda - Greek referendum threatens new euro zone crisis |

Pakistanis angry over detentions in Times Sq. case
Monday, May 24, 2010
ISLAMABAD – Relatives of three men detained by Pakistan for alleged links to the suspect in the attempted Times Square bombing say the men are innocent.
They

Taiwan denies boycotting Australian film festival
Thursday, August 6, 2009

AFP - Thursday, August 6TAIPEI (AFP) - - Taiwan's Beijing-friendly government on Wednesday denied boycotting an Australian film festival amid a row over the e

Merkel's support dips, regional ally resigns International
Thursday, September 3, 2009

By Sarah Marsh and Noah Barkin

BERLIN (Reuters) - Chancellor Angela Merkel suffered a double blow on Thursday as a senior party ally in east German

Minister seeks closure of anti-Berlusconi websites
Wednesday, December 16, 2009
ROME (AFP) - – The Italian government moved Tuesday to close down Internet sites encouraging further violence against Prime Minister Silvio Berlusconi, who

Asian markets mixed after Wall Street rally
Wednesday, March 18, 2009

By ELAINE KURTENBACH,AP Business Writer AP - Wednesday, March 18SHANGHAI - Asia's stock market rally seemed to be running out of steam Wednesday, despite an

Diet, exercise could cut cancer rates by third | 27 February 2009
Nepali leaders denounce Norway attacks | 23 July 2011
Apple up sharply on tablet computer reports | 25 December 2009

Swiss WikiLeaks website blocked, spawns alternatives | 4 December 2010

Forum Views () Forum Replies ()

Read more with google mobile : Greek referendum threatens new euro zone crisis |

Edition: U.S. Africa Arabic Argentina Brazil Canada China France Germany India Italy Japan Latin America Mexico Russia Spain United Kingdom Home Business Business Home Economy Technology Media Small Business Green Business Legal Deals Earnings Summits Business Video Markets Markets Home U.S. Markets European Markets Asian Markets Global Market Data Indices M&A Stocks Bonds Currencies Commodities Futures Funds peHUB World World Home U.S. Brazil China Euro Zone Japan Mexico Russia Afghan Journal Africa Journal India Insight Global News Journal Pakistan: Now or Never? World Video Politics Politics Home Front Row Washington Politics Video Technology Technology Home MediaFile Science Tech Video Opinion Opinion Home Chrystia Freeland Felix Salmon John Lloyd Jack Shafer Breakingviews David Rohde Bernd Debusmann Gregg Easterbrook Nader Mousavizadeh James Saft David Cay Johnston Edward Hadas Hugo Dixon Ian Bremmer Mohamed El-Erian Lawrence Summers Susan Glasser The Great Debate Newsmaker Money Money Home Analyst Research Global Investing MuniLand Reuters Money Blog John Wasik Unstructured Finance Alerts Watchlist Portfolio Stock Screener Fund Screener Personal Finance Video Life & Culture Health Sports Arts Faithworld Business Traveler Left Field Entertainment Oddly Enough Lifestyle Video Pictures Pictures Home Reuters Photographers Full Focus Video Article Comments (5) Full Focus Editor's choice Our top photos from the weekend. Full Article Follow Reuters Facebook Twitter RSS YouTube Read Jessica Simpson pregnant with first child 31 Oct 2011 Kim Kardashian Divorce Jokes: The Best of Twitter 31 Oct 2011 Kansas city missing baby case becoming a circus, critics say 31 Oct 2011 MF Global collapses under euro zone bets | 1:59am EDT Insight: Firms to charge smokers, obese more for healthcare 30 Oct 2011 Discussed 149 Insight: U.S. firms to charge smokers, obese more for healthcare 131 Two abortion clinic employees plead guilty to murder 104 Jobless US vets say military experience not valued Watched Pilgrims flock to Mecca to perform annual haj Mon, Oct 31 2011 New CPR technique revives man after 63 minutes without pulse Thu, Oct 27 2011 UNESCO gives Palestinians full membership Mon, Oct 31 2011 Interactive Euro zone bank stress test calculator Use the Reuters Breakingviews stress test calculator to calculate how the Target core Tier 1 capital ratio and sovereign haircut levels affect the amount of capital banks need to pass the stress test. Full Coverage Greek referendum threatens new euro zone crisis Tweet Share this Email Print Related News Greek finmin hospitalized with stomach pain 3:03am EDT German parliament leader "irritated" by Greek move 3:19am EDT Greek vote would be on euro membership: Finnish minister 3:20am EDT Analysts view: reaction to calling of Greek referendum Mon, Oct 31 2011 Analysis & Opinion The big powers need to learn to share Roman politics could gum Europe up Related Topics World » Greece » Euro Zone » Greek Prime minister George Papandreou delivers a speech to Panhellenic Socialist Movement (PASOK) parliamentary group at the parliament in Athens October 31, 2011. Credit: Reuters/John Kolesidis By Dina Kyriakidou and Harry Papachristou ATHENS | Tue Nov 1, 2011 3:20am EDT ATHENS (Reuters) - Greek Prime Minister George Papandreou risks a new euro zone crisis with his shock announcement that he will put the bailout deal struck last week to try to contain the bloc's debt mountain to a referendum of voters already angry at harsh cuts. Euro zone leaders agreed to hand Athens a second, 130-billion-euro bailout and a 50-percent write-down on its enormous debt to make it sustainable. Papandreou, whose ruling Socialist party has suffered several defections as it pushes waves of austerity measures through parliament while protesters rally outside, said he needed wider political backing for the fiscal measures and structural reforms demanded by international lenders. "If there was to be a referendum, we may reasonably conclude that they may not accept the austerity measures. We may conclude that it will bring the pack of cards tumbling down," Howard Wheeldon, senior strategist at BGC Partners in London, said. Analysts said holding a referendum -- likely to be early next year and only Greece's second in almost 40 years -- was baffling, given that the latest opinion poll showed a majority of Greeks took a negative view of the bailout deal. And the renewed uncertainty will be likely be an embarrassment for G20 leaders in France this week trying to coax China into throwing the euro zone a financial lifeline. Early reactions to the surprise move ranged from accusations that Papandreou was gambling with the country's future and predictions of default, to questions over the legality of the referendum and statements by lawmakers that a No vote would force his resignation and early elections. Nobel prize-winning economist Christopher Pissarides caught the mood of uncertainty: "It is difficult to predict what will happen to Greece if they reject it. It will be bad enough for the European Union and the euro zone in particular, but it will be far worse for Greece. "In the scenario of a 'no' vote Greece would declare bankruptcy immediately, they would default immediately. I can't see them staying within the euro," he said. REFERENDUM ON MEMBERSHIP Finland's Europe Minister Alexander Stubb said the referendum would be a vote on Greece's membership of the euro. "The situation is so tight that basically it would be a vote over their euro membership," Stubb told broadcaster MTV3. Analysts were divided over whether Greek voters would accept the deal, but agreed that a damaging month or two of market volatility lay ahead while pollsters repeatedly took the Greek voters' pulse and European leaders looked on nervously. "This is going to bring back volatility and uncertainty in the market and essentially erase all the efforts made by the EU to make a deal," said Kathy Lien, director of currency research at GFT Forex, New Jersey. "... with 60 percent against it, getting this passed will be a challenge, if passed it will provide extreme relief but given the protests and opposition it will be very difficult." The immediate market reaction to the announcement was negative, the euro extending losses against the dollar and tumbling more than 2 percent to a session low. European shares were seen opening around 1.1 percent lower, according to financial bookmakers. Opposition New Democracy leader Antonis Samaras will visit President Karolos Papoulias on Tuesday to discuss developments and push for snap elections, party officials said. "Mr. Papandreou is dangerous, he tosses Greece's EU membership like a coin in the air," party spokesman Yannis Michelakis said. "He cannot govern and instead of withdrawing honorably, he dynamites everything." UP TO THE VOTERS Papandreou told the Greek voters it was up to them to decide the country's fate. "We trust citizens, we believe in their judgment, we believe in their decision," he told Socialist party deputies. "In a few weeks the (EU) agreement will be a new loan contract... we must spell out if we are accepting it or if we are rejecting it." Papandreou, grappling with Greece's worst financial crisis in 40 years, said the referendum would take place in a few weeks. Finance Minister Evangelos Venizelos told Greek TV it would probably be held early next year. Venizelos checked into an Athens hospital on Tuesday with stomach pains but was expected to be discharged later, his office said. Opposition parties accused Papandreou of looking for a way out for his embattled party by dragging Greece, which has seen violent clashes between anti-austerity protesters and riot police, through a lengthy period of political instability. "I never expected Papandreou to take such a dangerous and frivolous decision," said Dora Bakoyanni, former foreign minister and leader of the small center-right Democratic Alliance party. "All the international media will say that Greece itself is putting the EU deal at risk." Papandreou also said he would ask for a vote of confidence to secure support for his policy for the rest of his four-year term, which expires in 2013. Analysts said he was likely to win that, despite dissent among his parliamentary team, and parliament officials said the confidence debate would begin on Wednesday, with a vote on Thursday or Friday. MONEY RUNNING OUT? Greece is due to receive an 8 billion euro tranche in mid-November, but that is likely to run out during January, around the time of the referendum, leaving the government with no funds if there was a 'no' vote. Germany issued a statement saying the EU was working hard to put the second Greek aid package in place by the end of the year and had no comment on the referendum. Swinging opinion polls would leave markets fluctuating and Greece's EU partners dangling. A survey carried out on Saturday showed that nearly 60 percent of Greeks viewed the agreement on the bailout package as negative or probably negative. But David Lea of Control Risks struck a more positive note. "It's all in the question. If he can frame it as a sufficiently apple-pie issue, he stands some chance of winning," he said. Some parliamentarians questioned the legality of the planned plebiscite under the constitution, which does not allow referendums on economic issues, only on matters of great national importance. The last time Greeks held a referendum was in December 1974, when they voted to abolish the monarchy shortly after the collapse of a military dictatorship. "It's debatable whether the constitution allows such a referendum," said Fotis Kouvelis, leader of the small Democratic Left party. "The country must go to early elections. Given the situation, it's the most honorable solution." To be binding, a referendum result requires a minimum 40 percent turnout on issues of "crucial national importance" and 50 percent on a law that has already been voted on in parliament and "regulates a serious social issue," according to legislation enacted this year. It was not clear which option the government would favor. "If the referendum answer is no, Papandreou has to resign," said Costas Panagopoulos, an analyst at polling firm Alco. "In the meantime what will happen with the decisions the EU took last week? I cannot understand what the prime minister wants to do." (Additional reporting by Ingrid Melander; Writing by Dina Kyriakidou; Editing by Tim Pearce and Alison Williams) World Greece Euro Zone Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/ Comments (5) stathis wrote: It seems that your reporters ignore other parties in Greece. But gallops indicate that the governing PASOK party is below 20% in the polls and together with the “official opposition” they gather about 35 – 40%. In Athens (almost half of the Greek population) polls indicate that it is a three way race between PASOK, ND and the Communist Party. You do not give a good service to your readers by not giving the full picture. Oct 31, 2011 11:23pm EDT -- Report as abuse CarlOmunificent wrote: What does Mr Wheeldon mean, “it will bring the PACK of cards tumbling down”? Surely, it’s a HOUSE of cards. Or have the EU only gotten to the part where they’re scheduling summits to discuss the planning stage of the house of cards, so the actual cards are still in the pack? Oct 31, 2011 11:42pm EDT -- Report as abuse CarlOmunificent wrote: stathis - The reporters were probably distracted by pall of doom cast upon humanity, which, incidentally, are more numerous than ever. I’d cut them some slack in this case. Heck, let’s cut everyone some slack – WHILE WE STILL CAN!!! Oct 31, 2011 12:06am EDT -- Report as abuse See All Comments » Add Your Comment Social Stream (What's this?) Edition: U.S. Africa Arabic Argentina Brazil Canada China France Germany India Italy Japan Latin America Mexico Russia Spain United Kingdom Back to top Reuters.com Business Markets World Politics Technology Opinion Money Pictures Videos Site Index Legal Bankruptcy Law California Legal New York Legal Securities Law Support & Contact Contact Us Advertise With Us Connect with Reuters Twitter Facebook LinkedIn RSS Podcast Newsletters Mobile About Privacy Policy Terms of Use Our Flagship financial information platform incorporating Reuters Insider An ultra-low latency infrastructure for electronic trading and data distribution A connected approach to governance, risk and compliance Our next generation legal research platform Our global tax workstation Thomsonreuters.com About Thomson Reuters Investor Relations Careers Contact Us Thomson Reuters is the world's largest international multimedia news agency, providing investing news, world news, business news, technology news, headline news, small business news, news alerts, personal finance, stock market, and mutual funds information available on Reuters.com, video, mobile, and interactive television platforms. Thomson Reuters journalists are subject to an Editorial Handbook which requires fair presentation and disclosure of relevant interests. NYSE and AMEX quotes delayed by at least 20 minutes. Nasdaq delayed by at least 15 minutes. For a complete list of exchanges and delays, please click here.

Other News on Tuesday, 1 November 2011
Egyptians protest, anger mounts over blogger arrest |
Tribe acquire pitcher Derek Lowe from Braves for minor leaguer
China to hold sway at G20 Cannes summit |
Occupy Wall Street applies for trademark
U.S. stocks fall Monday; October still on track for sizable gains
Gaza militants fire rockets, testing truce |
Tony goes out on top: Cardinals manager La Russa retires after World Series win
Brazil's Lula starts cancer therapy, doctors upbeat |
Kim Kardashian files for divorce from Kris Humphries
Families of Central American illegal immigrants search for lost relatives in Mexico
Slow start has Blue Jackets GM Howson, coach Arniel on thin ice
Obama orders FDA to curb drug shortages
Bosnia court orders detention for U.S. Embassy attacker |
Google doodle celebrates Halloween with 1,000-pound pumpkins
Violence more common among kids of combat veterans
Tunisia issues warrant for Arafat's widow |
Insight: Dreaded Brazil cost may dim Foxconn's iPad dreams |
App for discovering what's happening nearby |
Battles by states over online taxes may yield little |
Kim Kardashian files for divorce |
Defense expert admits Jackson doctor made mistakes |
Ricki Lake says J.R. hard to beat on Dancing |
Justin Bieber rounds off MTV Europe awards lineup |
UNESCO grants Palestinians full membership |
Sales pitch works: Yankees retain ace CC Sabathia with five-year, $122M deal
Libya elects little-known scientist new prime minister |
Ryan Callahan nets pair of goals as Rangers rip Sharks
Arrest made in U.S. flight attendant murder in Mexico |
Minnesota Health Systems Try Partnering, Not Competition, To Boost Their Bottom Lines
Obama readies for G20 Summit, to push for responsibility fee for top financial players
Browns offensive woes start with rushing attack, fumbles
Greek referendum threatens new euro zone crisis |
Turkey wants Afghan-Pakistan summit to reduce mistrust |
China's Groupon clone files for $100 million U.S. IPO |
UK conference seeks cooperation on cyberspace |
Kim Kardashian files for divorce |
Jessica Simpson pregnant with first child |
Prosecutors ridicule Jackson self-injection scenario |
China orders Ai Weiwei to pay $2.4 million for tax evasion |
Rihanna taken to hospital in Sweden with flu |
Thai flood frustration grows |
Egyptians feel less secure on the street, in their wallets
The Kyrgyz president-elect who wants to share power |
Lousy sleep linked with loneliness
Chiefs outlast Chargers in overtime, win fourth straight
Study: Happy people live longer
Iran's parliament votes to keep Ahmadinejad's minister |
U.S. stocks fall after Greek referendum call
6.5 magnitude quake hits off Mexico
Berlusconi vows reform amid pressure to name new government |
Nepal detains dozens of Tibetans from Kathmandu
Why malnutrition could get worse
Washington to host summit of EU leaders on Nov 28
Arab League, Syria agree on crisis deal: report |
Anger over detained Chinese activist reaches capital |
St Paul's, caught between God and Mammon in tent protest |
Olympus unveils panel to probe M&A scandal |
Yahoo to buy online ad tech firm interclick for $270 million |
New cyber attack targets chemical firms |
Some flood-hit Thai tech firms aim to reopen by Dec |
MetroPCS churn rises, profit misses Street view |
Puppets, naked ladies run wild in revamped Bolshoi |
North America box office goes to Puss in Boots |
Greece at new risk of being pushed off euro
Bodies of missing Tenn. mom, Jo Ann Bain, and daughter found
Female Breasts Are Bigger Than Ever
AMD Trinity Accelerated Processing Units Now in Volume Production
The Avengers (2012 film), made the second biggest opening- and single-day gross of all-time
AMD to Start Production of piledriver
Ivy Bridge Quad-Core, Four-Thread Desktop CPUs
Islamists Protest Lady Gaga's Concert in Indonesia
Japan Successfully Broadcasts an 8K Signal Over the Air
ECB boosts loans to 1 trillion Euro to stop credit crunch
Egypt : Mohammed Morsi won with 52 percent
What do you call 100,000 Frenchmen with their hands up
AMD Launches AMD Embedded R-Series APU Platform
Fed Should not Ignore Emerging Market Crisis
Fed casts shadow over India, emerging markets
Why are Chinese tourists so rude? A few insights

USD EUR - 1 year graph	VPN on MacOSX	BlogMeter 1.01