The European Union must stick with the emergency bailout package for the crisis-stricken Greek economy, Chancellor George Osborne has said 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. By Kathleen Madigan European officials meeting for hastily called crisis talks with Greek Prime Minister George Papandreou will make clear to Athens that there is no alternative to the deal thrashed out in two European leaders summits last week, a European official familiar with the situation said Tuesday.
http://www.google.com/hostednews/ukpress/article/ALeqM5gbp-lBYGWaG3pdQ9GAZX7Co70S1g?docId=N0392591320144493037A
Osborne Says Greek Referendum Decision Has Added to Instability
http://www.bloomberg.com/news/2011-11-01/osborne-says-greek-referendum-decision-has-added-to-instability.html
Caught unawares by his high-risk 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.
http://www.reuters.com/article/2011/11/01/greece-referendum-idUSL5E7M108720111101
We’re back in the madhouse of uncertainty, at least until January. Until then, the financial markets will go nuts, taking economic sentiment along with them.
Just when Greek-watchers didn’t think the situation could get any more convoluted, Greek Prime Minister George Papandreou decided to hold a public referendum on the latest austerity plan.
But the vote won’t happen until January. The delay basically puts any credible solution to the sovereign debt crisis on hold–and raises the possibility of a Greek default and possible exit from the euro zone.
The uncertainty — including whether the Papandreou government will even hold by week’s end — is driving investors crazy. The Dow Jones Industrial Average plunged about 300 in Wednesday morning trading. Investors are flocking to the safe haven of Treasurys. There is a high probability, if not foregone certainty, that Dexia and MF Global won’t be the only financial firms to fall under the weight of the crisis.
http://blogs.wsj.com/economics/2011/11/01/greeces-surprise-referendum-adds-to-chaos/
"We want to convey to the Greeks that there is no alternative to the existing package of measures that we agreed in Brussels," the official said.
http://tinyurl.com/3vvvbaa
Tuesday, 1 November 2011
It must be said right at the beginning: The Greeks will, for a change, decide for themselves how they and their country will move forward.
They have had no real opportunity to do so for quite some time. For about a year and a half, this once proud country has been under foreign administration; it is de facto no longer a sovereign state. The government's most important task has been dragging the austerity programs and structural reforms though parliament and implementing them. These are dictated by the strict troika of the EU Commission, the European Central Bank (ECB) and the International Monetary Fund. Otherwise there will be no more bailout money, and the country would go bankrupt.
EU Shocked and Furious at Greek Referendum Plan
SMART METERS.
Hi S, remember the topic regarding the “Spy in the home” or the Smart Meter ? which was approved by the EU under Electricity and Gas directives which required smart metering systems to be installed nation wide in business and households, also in new building and building renovations, (not forgetting the EU’s nation wide mandatory installation of water meters).
We were informed the cost per household would be £330 ( I believe since this has increased) and the cost would be added to consumers bills over a period of time, we were also told the saving per year were around £26 when it was found the actual savings could be only £2. 48p per year, I see in the business section of todays Telegraph that it states they were free but it was found business were being charged a standing charge between 20p and 60p per day for the meter, also if you changed energy providers to find a better tariff.
The question therefore is , are these smart meters still free ,or are consumers paying on bills, and are these standing charges just for business or households? Are these standing charges a way of now stating the meters are free?
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