Threat of bankruptcy with elections in the background

Papademos’ government is now sailing in deep waters. In his evening speech at the conference of the American Hellenic Chamber, and at tomorrow's cabinet meeting, the PM will ascribe responsibilities to his ministers: "We work or we fall!" According to his associates, the government is deadlocked. The reason? ND ministers are washing their hands and PASOK members are involved in the succession race. Above all, there seems to be a different approach on new measures between Papademos and Venizelos.

In this climate, elections are seen as a solution. But this issue too is involved in party matters of the major political parties. The reformers in ND and PASOK want to extend the life of this government. The troika of PASOK is already reproaching the finance minister for his view that the new measures should be taken by a government with a fresh popular mandate. The burden of the decision falls on Papandreou's shoulders. It was on his own initiative that Papademos’ government was created, and wherever he leans that shall be the case.

This issue will be discussed in his afternoon meeting with Venizelos. The finance minister will inform the president of his party that the seventh tranche of approximately 80 billion is uncertain and the PSI is encountering reactions. Greece needs a strong government immediately and parties that will commit to the agreement that required by our lenders. And this can only be achieved in a pre-election period…