Germany stands firm. Shock waves ripple through Europe. The Greek government is about ready to fall. Greek Prime Minister Papandreou has agreed to resign if the other side agrees to adopt an austerity measure. They didn’t take him up on his offer.
The Greek Prime Minister says he will call for a vote of confidence in Parliament. He will reorganize the government. The Finance Minister, George Papaconstantinou, will lose his job.
As a result, the stock market sank. Everyone fears contagion. The euro plunged 1.9% against the dollar. Moody’s will downgrade French banks because of their exposure to Greek debt.
Who will prevail? Wolfgang Schauble, the German Finance Minister, who shakes his fist at the Greeks who refuse to adopt austerity measures, or the mobs inAthens? They battle the police.
Greek riots