Greece must back bailout or face catastrophe, warns PM
Greek prime minister Lucas Papademos told his turbulent coalition government tonight to accept a harsh international bailout deal or condemn the nation to catastrophe.
“We cannot allow Greece to go bankrupt,” he told a cabinet meeting. “Our priority is to do whatever it takes to approve the new economic programme and proceed with the new loan agreement.”
Earlier, far-right leader George Karatzaferis said he could not back the tough terms attached to a €130 billion bailout and all four cabinet members of his Laos party submitted their resignations, along with two from the socialist Pasok party.
However, Mr Papademos was not expected to react immediately to the loss of his transport minister and five deputy ministers. “There will be no reshuffle today,” said a government official who declined to be named.
Ideologues always willing to sabotage co-operation for the sake of demagoguery. It is universal.