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Democracy is from the Greek “Demos Kratos”. People power. So what of Technocracy? Technos Kratos. Robot power? Well they weren’t invented then. But Technos means method, art or skill. And so, today we bear witness to the rise of the technocrats. Please feel free to play this whilst reading this blog, click here to listen.…
The financial markets continue to put pressure on indebted Italy, despite Silvio Berlusconi’s decision to resign as prime minister.
Italy’s Silvio Berlusconi is planning to stand down after losing his parliamentary majority amid the financial turmoil engulfing Italy. Channel 4 News looks at the country’s economic future.
Journalists close to Silvio Berlusconi say Italy’s embattled prime minister is about to resign, as a crunch vote looms in the Italian parliament.
The outgoing Greek prime minister has agreed to a crisis coalition which will back an international bailout deal within 24 hours. It follows a weekend of intense wrangling, as Jane Deith reports.
Does it matter who is PM of Greece? The astonishing example of Greece’s Project Helios shows just how sovereignty transfer works in a crisis.
G20 leaders agree to boost the resources of the IMF, but fail to agree on how to pull the eurozone back from the brink, as the Greek prime minister faces a crucial vote.
Gary Gibbon
Though there was nearly 60 per cent against the bail-out deal in a poll last weekend in Greece, there was a majority still wanting to stay in the euro.
Greece’s Prime Minister Papandreou says he will not go ahead with plans for a referendum on the EU bailout, but calls for unity from opposition parties.
One economist likened the euro to Hotel California “where you can check out but you can’t leave”, pointing out that, “almost no modern fiat currency union has broken up without some form of authoritarian or military government or civil war”.
Gary Gibbon
The die appears cast: somehow the Greek people are going to get a say on all this – either through a referendum or an election – and they will pronounce on whether they want to live more like the Germans or not.
In Cannes ahead of the G20 meeting, Chancellor Merkel and President Sarkozy press Greece’s premier Papandreou for clarity on whether the country plans to remain in the eurozone.
The chairman of eurozone finance ministers, Jean-Claude Juncker, says Greece could go bankrupt if its voters reject the bailout deal in a referendum. Channel 4 News looks at the consequences.
The Greek referendum has sent Greek politics into chaos. But it has also disarmed the euro bailout agreed last week, sending government borrowing costs soaring and share prices crasing across the rest of the eurozone.
Gary Gibbon
Never mind a referendum – a general election could be on the cards for Greece if the Greek prime minister fails to win a majority on Friday’s vote. A situation which looks increasingly likely.