Paul Donovan: Greek Referendum Makes Political Sense
2 November, 2011, 13:57. Posted by Zarathustra
In the time when Greek government may collapse as the Prime Minister George Papandreou’s position is greatly weakened, Paul “the eurosceptic” Donovan, who expected 5 years of rolling crisis in Euro, believes that a Greek referendum makes good political sense. “He’s going to direct democracy away from representative democracy. ‘Look, we’ve got to do this, it’s going to be very painful’. [If] the voter say yes, then that’s fine: every time they complain, I can just turn around and say ‘look, you made the choice’. If the voters say no, politically it does depend on the question… but gives him some bargaining power.”
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About Zarathustra
Zarathustra: Founder and Managing Editor of Also sprach Analyst. Once an analyst, now an investor and entrepreneur. Based in Hong Kong, but Londoner at heart.