Greece's Papandreou asks for a vote of confidence - no, really

The man who has presided over the most spectacularly inept western government in recent memory is asking the Greek parliament for a vote of confidence in his latest bid to pass "austerity measures" demanded by the EU in exchange for more bailout money. Financial Times: Mr Papandreou on Friday unveiled a cabinet dominated by tough socialist personalities, including Evangelos Venizelos, a former political rival, as finance minister, to push through a four-year package of new tax hikes and spending cuts agreed with international lenders. "'I ask for a vote of confidence because we are at a critical juncture...the debt and deficits are national problems that have brought Greece into a state of (diminished sovereignty) that may have protected us from bankruptcy, but which we need to get out of," Mr Papandreou told parliament. Mr Venizelos was due to join the meeting of eurozone finance ministers starting in Luxembourg at 6pm local time and expected to continue into Monday. Markets were...(Read Full Post)

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