Through years of reckless spending and tax evasion Greece has destroyed it's economy. As a results lots of people worked very hard to draw up a plan that would allow the Greek people to walk out on 50% of their debt. All they needed to do in return was institute economic reforms that would solve their crippling youth unemployment and make sure they don't get into the same mess again.
However rather then saying thank you the Greek government has today (31/10/11) decided to put the economic reforms to public referendum. Based on the latest opinion polls, strikes and riots that referendum is likely to vote against the reforms. So Greece is trying to position itself for an even more generous deal. The problem is that the recent Eurogroup summit pretty much insulated the Eurozone from a Greek default so rather then getting more money the Greeks could instead find themselves being thrown to the wolves.
Oh and have the east coast Americans got the little hint about Halloween and trick or treating yet?
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