GREEK REFERENDUM

[bostonterrierowner]

I am very curious about an opinion of the great minds of this forum regarding GREEK REFERENDUM. As we know it might happen as soon as on Dec. 4th and its going to be a very crucial vote on wether to pay the fraudulent debts and submit to the barbaric austerity measures imposed by the corrupt ruling "elite" on Greeks now and the rest of us in the future.
Do you think its a real thing? Does it have any chance to happen? What is Papandreu's real role in this show?

Pleas share your thoughts

[Euphoria]

Looks like the Greek PM has done a U-turn on this proposed referendum already.

http://www.bbc.co.uk/news/world-15575198

From the article:

Greek PM George Papandreou has said he is ready to drop a proposed referendum on the country's eurozone bailout deal.

Addressing fellow Socialist MPs, he said he was instead seeking consensus with the opposition over for the deal.

His announcement of a referendum angered European leaders and sent shockwaves through its markets.

Facing calls for his resignation, Mr Papandreou called for unity in the party ranks ahead of a confidence vote on Friday. He has a thin majority.

[Heiwa]

IMO Greece should pay back its loans, when they are able to do it. Interest rates should be reduced from 28% to, why not, 0, etc. Best way to pay back debt is to put one's economy in order. Compare Japan in September 1945. GNP was very low (for well known reasons) and outstanding loans very big. By putting the economy in order Japan managed to pay back all outstanding loans (after a while). Greece could do the same thing. Rebuild the factories, attract investors, shape up, etc. Existing loans can be frozen for 20-30 years.
It is very simple, actually. I wonder why all economic experts haven't thought of it before?