Reuters: Greece risks meltdown after bailout vote bombshell

[Poll_Blind]

From http://www.reuters.com/article/2011/11/01/greece-referendum-idUSL5E7M13Q320111101">Reuters:

ATHENS, Nov 1 (Reuters) - The Greek government faced possible collapse on Tuesday as ruling party lawmakers demanded Prime Minister George Papandreou resign for throwing the nation's euro membership into jeopardy with a shock call for a referendum.

Caught unawares by his high-stakes gamble, the leaders of France and Germany summoned Papandreou to crisis talks in Cannes on Wednesday to push for a quick implementation of Greece's new bailout deal ahead of a summit of the G20 major world economies.

--snip--

Six senior members of Greece's ruling PASOK socialists, angered by his decision to call a plebiscite* on the 130 billion euro rescue package agreed only last week, said Papandreou should make way for a "politically legitimate" administration.

Much more at the link including an unfolding shitstorm which can only be described in breathless bullet points- Mods, I'm using this as my "fourth" paragraph:
:redbox: PM under fire over referendum call on bailout
:redbox: Papandreou to meet French, German, EU leaders in Cannes
:redbox: EU partners surprised and angry
:redbox: Polls indicate most Greeks oppose bailout deal
:redbox: Opposition parties protest, want snap election

Did you catch it yet? Did you catch what caused the eruption of Mount Shitstorm?

HINT:
* plebiscite - a vote by all the people about a political issue

That's right, Greek Prime Minister George Papandreou is putting the bailout deal to the Will of The Greek People. And that's a dangerous idea, isn't it? The nobodies who are going to be eating this deal in perpetuity shouldn't have a say in such important matters. Rabble. You should read the full article because some of those quotes in there are amazing.

I'll sum them up for you:



You should keep your eye on this story and how it unfolds. BTW, my last quote from the article. Notice the phrase "politically legitimate"? I'll give you three guesses as to what they really mean when they use that phrase.

PB

[Cali_Democrat]

1. K&R

[fasttense]

2. How dare a democracy allow the people to vote on an issue.

Why the people will never agree to sell of their country and starve their poor children to pay off some greedy banker's yacht.

[Poll_Blind]

3. More- check out these quotes from PM Papandreou:

From http://www.eyretribune.com.au/news/world/world/general/greek-pm-calls-for-eu-aid-vote/2343659.aspx">here:

''Let us allow the people to have the last word, let them decide on the country's fate,'' he said.

''The people will be asked whether they want to adopt or reject . This vote of confidence will be a foundation stone on which we will build a new structure, a new Greece.''

He's absolutely right, of course.

More, from the article:

The proposed referendum would be the second to be held since democracy was restored to the country in 1974.

The first such referendum was in December of that year, when Greeks voted to abolish the monarchy shortly after the collapse of the military dictatorship.

Sounds like the people are more than willing to abolish a second, economic, monarchy. I am concerned for Papandreou's physical safety but the politics of his move are win-win given the bailout deal. If the vote is not held, it will be a festering point for millions of Greek citizens who felt they were railroaded into it. If the vote does come to pass, and the referendum rejects the bailout, the Greek People have willingly made a choice for their own destiny...a destiny which will involve short term harship but one which would restore a great deal of pride about their situation, their sovereignty.

Either way, Papandreou wins politically. With the people, anyway.

With the banks, not so much. We may find out what banks have in the way of armies after all.

PB

[Defectata]

6. my thoughts exactly

I have not heard a single report issued in the frame of the rights of the people to determine their own destiny in a democratic sense. It just doesn't even occur to these people in the media that the Greeks themselves have any say in the matter.

[lib2DaBone]

4. Here we go folks.. fasten your seat belts... it is happening..

There is NO WAY the world banks can absorb all the toxic derivatives that Wall Street has cranked out.

Even the poor beleaguered tax payers can't absorb $31 Trillion of fraud.... it's over... let it crash...

[Poll_Blind]

5. They will be doing everything they can to stop Papandreou from bringing it to a vote.

Did I say "everything", I think I really mean anything.

Anything..

PB

[WestSeattle2]

7. Right on. When can American's vote on the economic bailouts

that were foisted on us and our children and grandchildren?

Banksters believe themselves to be Lords of the Universe, when in fact they're nothing more than the residue found on the bottom of ones shoes after walking through a barnyard.

I say we vote as well, then throw the banksters in prison and throw the key away. I mean really, the only difference between Lehman Brothers and Bernie Madoff, was that Lehman had Congressional approval to steal.

[Poll_Blind]

8. Here's the difference, and why we won't get to vote: Representative government would have to approve

So the answer is never. What you have in Greece is a Democratic representative (the PM in this case) attempting to toss the power back to the people on an extremely important matter which will economically affect Greeks for generations. It makes absolute sense but it's not a route which is normally taken because representative government means we vote people into office who make choices for us.

And that works unless well...unless the representatives make choices which reflect something other than the will of the majority which elected them. Even then, it isn't always the end of the world but on weighty matters of national importance it can be.

So your question is "When can Americans vote on the economic bailouts that were foisted on us and our children and grandchildren?"

The answer is never.

No American politician who is high enough to make the call (i.e. President) would ever do something like this. Not now. The Will of the American people has been reduced over time such that I think it's arguably comparable to a simpleton with a key around his neck: Every two years the politicians come courting and whichever one of them can convince the simpleton to give them the key has free reign to do almost anything while in office during the time after the election until the next one.

PB