The referendum called by Athens is a gun pointed at Greece's temple. Because of this an emergency meeting between the Greek government, the EU, the IMF, France and Germany will be held tomorrow. This was reported by sources of the German Executive. Also the head of the Elysium Nicolas Sarkozy and the chancellor Angela Merkel, who spoke on the phone this afternoon, said they were "certain” to make Greece implement its commitments on rehabilitation.
If citizens were to reject the latest package of emergency measures agreed with Europe, the doors of default would open to the country. This concern was also expressed today by Jean-Claude Juncker. In an interview with Luxembourg radio station Rtl, the president of the Eurogroup specified that in any case it would be necessary to examine the wording of the question that he intends to submit to the Greeks.
Juncker then underlined how the Greek premier, George Papandreou, took the decision to propose the referendum "without consulting his European colleagues", in a move that increases "nervousness and insecurity".
Of the same opinion the World Bank, who warns against the Greek referendum: if it fails, "it will be the bazaar", said the president of the institution, Robert Zoellick.
Instead, the president of the European Commission is trying to throw water on the fire, Jose Manuel Barroso, and the President of the European Council, Herman van Rompuy: "We acknowledge the intention of the Greek authorities to hold a referendum - reads a joint statement - and we are totally confident that Greece will honor the commitments undertaken with the euro area and with the international community".
But the trust of the two top European authorities does not seem to be shared by almost anyone, starting withFitch rating agency, to get to the Greeks themselves. While Greek government bonds sink into the abyss (with yields touching 83,9%), a Greek news agency reported six leading exponents of the socialist majority who claims the government would have asked Prime Minister George Papandreou to resign. An appeal for a "national health government that can guarantee the European plan”.
