Comments Subscribe to Personal Liberty News Feed Subscribe to Personal Liberty

Greece To Vote On Rescue Package

ATHENS, Greece, Oct. 31 (UPI) — Greek Prime Minister George Papandreou said he will let the Greek people decide whether to accept the European Union’s rescue package.

After months of negotiations in Europe’s capitals and tensions in stock markets around the globe, European leaders Thursday announced they would expand an international rescue fund for eurozone nations to $1.4 trillion, grant $182 billion in fresh aid for Greece and require $100 billion in recapitalization for Europe’s largest banks.

The plan also called for a voluntary write-off of 50 percent of Greek bonds.

However, Greece has been subjected to numerous national strikes to protest a series of austerity measures that are provided for under the terms for the agreement’s international loans.

The terms are set by the so-called troika — the European Central Bank, the European Commission and the International Monetary Fund. Since the bailouts began, Greece has cut benefits, raised taxes, slashed spending, laid off workers and sold assets, all to meet the troika’s terms.

In his announcement Monday, Papandreou said, “Let us allow the people to have the last word, let them decide the country’s fate,” The New York Times reported.

Stock markets in Europe and the United States fell on the news — in contrast to what occurred Thursday, when markets around the globe soared after the rescue package was announced. On that day, Papandreou called the accord among the 27 European Union nations, “a new day for Europe and for Greece.”

UPI - United Press International, Inc.

Since 1907, United Press International (UPI) has been a leading provider of critical information to media outlets, businesses, governments and researchers worldwide.

Facebook Conversations

Join the Discussion:
View Comments to “Greece To Vote On Rescue Package”

Comment Policy: We encourage an open discussion with a wide range of viewpoints, even extreme ones, but we will not tolerate racism, profanity or slanderous comments toward the author(s) or comment participants. Make your case passionately, but civilly. Please don't stoop to name calling. We use filters for spam protection. If your comment does not appear, it is likely because it violates the above policy or contains links or language typical of spam. We reserve the right to remove comments at our discretion.

Is there news related to personal liberty happening in your area? Contact us at


Sign Up For Personal Liberty Digest™!

PL Badge

Welcome to,
America's #1 Source for Libertarian News!

To join our group of freedom-loving individuals and to get alerts as well as late-breaking conservative news from Personal Liberty Digest™...

Privacy PolicyYou can opt out at any time. We protect your information like a mother hen. We will not sell or rent your email address to anyone for any reason.