http://roarmag.org/2011/06/strike-protest-austerity-athens-greece/

The most important 48 hours in EU history?

By Jérôme E. Roos On June 28, 2011

excerpt :

"if all four abovementioned Socialist MPs vote against, Papandreou will only have a majority of one. That means that if one more MP unexpectedly votes against the austerity package (or simply fails to show up for the vote), the measures wont pass.

This, in turn, will almost certainly trigger a sovereign default, as the EU and IMF will withhold the disbursement of additional bailout funds. Rating agencies will call a ‘credit event’, causing the Greek banking sector to collapse. "