Greek Prime Minister George Papandreou is calling for European support since his country’s budget situation gets worse every day due to hidden fiscal ‘landmines’ which he blames on his political opponents:
The additional measures are also needed because every day “we discover new holes, new debts, new landmines in the Greek state’s budget,” Papandreou said, blaming the previous New Democracy government, which he defeated in October elections, for much of the country’s fiscal mess. Tensions between the two parties could complicate Papandreou’s ability to pass some of the austerity measures in parliament.
Thus even with an expected $6.5 billion in deficit cuts to be announced, he’s still very much relying on Europe to save the day.
“If our country doesn’t manage to borrow with similar terms as is normal for a European Union country, then the consequences will be something more than catastrophic,” Papandreou said. “Our responsibility is to avoid this catastrophe.”
Which means he wants a guarantee of Greek debt from Europe.