Angela Merkel and Nicolas Sarkozy try to strong-arm Greece

[marmar]

(Bloomberg) European leaders pressed Greece to uphold the terms of a five-day-old bailout in a bid to stop the deal unraveling on the eve of a global summit, after Prime Minister George Papandreou said he’d put the plan to a referendum.

German Chancellor Angela Merkel and French President Nicolas Sarkozy held emergency talks on Greece today and called on Europe to implement the package of measures thrashed out in Brussels last week.

The referendum proposal “surprised all of Europe,” Sarkozy told reporters in Paris. “The plan adopted unanimously by the 17 members of the euro area last Thursday is the only possible way to resolve the problem of Greek debt.”

The plan, designed to aid Greece and stem the wider debt crisis, is “more necessary than ever today,” Merkel and Sarkozy said in a joint statement issued in Berlin and Paris. Germany and France “are convinced that this agreement allows Greece to return to lasting growth” and want to draw up a road map for locking in the second Greek bailout. ...........(more)

The complete piece is at: http://www.bloomberg.com/news/2011-11-01/merkel-sarkozy-press-greece-to-stick-to-bailout.html

[Renew Deal]

1. Why are Merkel and Sarkozy concerned about a "referendum?"

If this bailout is the right thing to do it will pass easily.

[Cali_Democrat]

3. Because they know there's a good chance the Greek people will reject those austerity measures

Those politicians and the banks want to tell the Greeks what to do. They don't want it up for a vote. That's just too inconvenient for them.

[KamaAina]

4. Because it's "the right thing to do" for German and French banks.

Not for the Greek people, who may well send it down in flames.

[Nuclear Unicorn]

5. Then what?

What will the Greeks do if they reject the terms of the bailout? No one else is rushing forward to help them.

[marmar]

6. No one was rushing in to help Argentina after they told the banksters to go f**k themselves....

..... and they're doing just fine now.

[Nuclear Unicorn]

7. Then why bother asking for other people's aid in the first place

If the Greeks will be "just fine" why send them anything?

[marmar]

8. Well if the Greeks reject it, which I suspect they will.....

we'll find out, n'est-ce pas?

[Nuclear Unicorn]

2. He who pays the piper calls the tune

Greece is certainly free to decline the bailout.