[P2P-F] Fwd: The most important 48 hours in EU history?

[Michel Bauwens]

---------- Forwarded message ----------
From: Dante-Gabryell Monson <dante.monson at gmail.com>
Date: Wed, Jun 29, 2011 at 6:18 PM
Subject: The most important 48 hours in EU history?
To: econowmix at googlegroups.com


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. "



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