21 October 2011 – Uncertainty ahead of EU Summit

The Dow was up 37.16 points (+0.32%) in erratic, directionless trading. European equity indices were down. Meanwhile, Greek leaders passed more austerity measures even as riots intensified. Europe appears to be in disarray heading into the weekend’s crucial EU meeting. France and Germany appear to be planning ahead, even without consulting fellow EU members. The EU may be able to get its act together yet. But Greece is an altogether different question. Consider the words of the protesters and the implications of such sentiments:

“He (Papandreou) doesn’t know what is going on. For me, it’s the worst government of all time.” – Haralambos Tahoula

“”That it (austerity bill) was voted on is one thing. Its implementation is another. The people will tear it apart, they will dismiss it in practice.” –¬†Kleanthis Kizilis

How can you ask these very same people to pay for further austerity?

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