November 3, 2011
1. CANED IN CANNES - Greece won’t get another cent of bailout money unless it decides on whether or not it wants to remain in the eurozone or not. This was the ultimatum presented to Prime Minister George Papandreou last night by German and French leaders, showing the Franco-German determination that the euro must be protected at all costs, even if this means the exit of Greece from the monetary union. As our political correspondent George Gilson writes, it’s a case of “Comply or get out”.
2. REFERENDUM - If the referendum takes place at all and the wording follows Papandreou’s intentions or those of Merkel and Sarkozy, it will be on December 4. Speaking shortly after the Merkel/Sarkozy press conference last night, Papandreou said he was determined to hold the referendum, saying: “Now I want to talk to the people. I think the Greeks are able to make the right decisions.” He added that he is certain that the referendum will secure the support of the majority of Greeks.