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Saturday, February 11, 2012

Greek Parliament to vote Sunday at Midnight (5 PM ET)

by Calculated Risk on 2/11/2012 10:52:00 PM

From the WSJ: Greek Party Leaders Urge Yes Vote on Austerity

The bills that will be voted on midnight Sunday include a set of austerity cuts, structural reforms and the terms of a debt restructuring. They need to get a majority in parliament if Greece is to receive a second, EUR130-billion ($171 billion) bailout from its official-sector creditors, the European Union, the European Central Banks and the International Monetary Fund.
From the Athens News: PM warns of collapse if bailout deal rejected
"This agreement will decide the country's future," [Prime minister Lucas Papademos] said. "We are just a breath away from ground zero."

"A disorderly default would set the country on a disastrous adventure," Papademos said. "Living standards would collapse and it would lead sooner or later to an exit from the euro."

Failing to adopt the bill, he said, "would disrupt imports of fuel, medicine and machinery".
From the New York Times: Greek Leaders Urge Lawmakers to Approve Debt Deal

Summary for Week ending February 10th
Schedule for Week of February 12th