Papandreou and the one trillion euro question

Greeks are hoping for two things: leadership and a miracle.

It is not often that a prime minister stands up to make a speech to his party's MPs only to have his finance minister, and second in command in the party ranks, follow up by saying the exact opposite. That kind of political theatre takes epic dimensions when it happens as the country is on the verge of collapse.

But that is the state of Greek politics as we await a confidence vote that will determine the PM's fate. He seems isolated, having lost the trust of his people, the opposition, his party and his EU peers in the European Council.

Domestically George Papandreou has to deal with an internal rebellion in his own party, unhappy not just about the way he announced a referendum but mostly for having to lend their support to hugely unpopular austerity measures that has gained them the fury of the electorate.

Papandreou also has to deal with an opposition that has been playing politics throughout the process, refusing to provide him with political support in the hope they can force his government to collapse.

In the international scene, his referendum move has cost him all legitimacy with his EU partners, forcing them to accept for the first time that Greece leaving the euro is a very real possibility indeed.

So what happens now? A lot depends on the kind of deal Papandreou is able to strike with his own party and the opposition.

Many in the ruling Pasok want to see him go, not least his finance minister Evangelos Venizelos. The same goes for the New Democracy opposition. They have in the past 24 hours entertained the notion of a grand coalition government only to withdraw their support for such a notion hours later and suggest a government of technocrats to ratify the new bail-out package before calling for elections.

They are adamant not to offer any political cover to the PM and they want to ensure that he is nowhere near a new government.

Having said that the outcome of tonight's confidence vote is not set in stone yet. Papandreou might just survive, in which case the question is whether he will try to get the bail-out plan through parliament with the support of his party alone, pursue a coalition government that the opposition does not want or call an election.

The problem is that nobody knows whether an election will produce a conclusive result.

Politicians' popularity is at an all time low, no matter which party they come from. So the protest vote is expected to be big and a hang parliament very likely. Which means we will have to go into another electoral contest or a coalition government, which takes us back to square one, having wasted time and recourses in a divisive election campaign with the whole world watching.

Not to mention that the next instalment of IMF money will not be released until the new bail-out programme is agreed, an important factor in the equation considering the Greeks have some expensive bills to pay by mid December. Time is off the essence.

What does all that mean for the EU and the Eurozone? Uncertainty in Greece is causing nervousness in the markets with a direct impact in the way they view Italy, the latest victim of self-fulfilling prophecies.

But in many ways, and despite the turmoil, it buys time for the eurozone leaders to iron out all the outstanding details that were left pending after the 26-27 October European Council.

The fact is that two thirds of that deal remain intact and provided EU leaders push forward with plans to recapitalise banks and strengthen the EFSF (the eurozone's bail-out pot of money) the eurozone should be sound in the short and medium term.

Returning to Greece, the one trillion euro question is whether the country will be able to salvage its eurozone membership. The stakes are high and the consequences catastrophic.

A default and a return to the drachma will see the value of the new currency fall through the floor, with the cost of the debt, which will be in euros but serviced in drachmas, going through the roof. Greeks' savings will evaporate, not that this will mater much with the banking sector collapsing all around them.

Hence it is imperative that the government (and the opposition) get hold of the situation, abandon brinkmanship and Machiavellian manoeuvring and put the wellbeing of the country first. It's is hard to predict what the next few hours will bring but everyone is hoping for two things.
Leadership and a miracle.

Petros Fassoulas is the Chairman of the European Movement UK.

Petros Fassoulas is the chairman of European Movement UK

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Let's face it: supporting Spurs is basically a form of charity

Now, for my biggest donation yet . . .

I gazed in awe at the new stadium, the future home of Spurs, wondering where my treasures will go. It is going to be one of the architectural wonders of the modern world (football stadia division), yet at the same time it seems ancient, archaic, a Roman ruin, very much like an amphitheatre I once saw in Croatia. It’s at the stage in a new construction when you can see all the bones and none of the flesh, with huge tiers soaring up into the sky. You can’t tell if it’s going or coming, a past perfect ruin or a perfect future model.

It has been so annoying at White Hart Lane this past year or so, having to walk round walkways and under awnings and dodge fences and hoardings, losing all sense of direction. Millions of pounds were being poured into what appeared to be a hole in the ground. The new stadium will replace part of one end of the present one, which was built in 1898. It has been hard not to be unaware of what’s going on, continually asking ourselves, as we take our seats: did the earth move for you?

Now, at long last, you can see what will be there, when it emerges from the scaffolding in another year. Awesome, of course. And, har, har, it will hold more people than Arsenal’s new home by 1,000 (61,000, as opposed to the puny Emirates, with only 60,000). At each home game, I am thinking about the future, wondering how my treasures will fare: will they be happy there?

No, I don’t mean Harry Kane, Danny Rose and Kyle Walker – local as well as national treasures. Not many Prem teams these days can boast quite as many English persons in their ranks. I mean my treasures, stuff wot I have been collecting these past 50 years.

About ten years ago, I went to a shareholders’ meeting at White Hart Lane when the embryonic plans for the new stadium were being announced. I stood up when questions were called for and asked the chairman, Daniel Levy, about having a museum in the new stadium. I told him that Man United had made £1m the previous year from their museum. Surely Spurs should make room for one in the brave new mega-stadium – to show off our long and proud history, delight the fans and all those interested in football history and make a few bob.

He mumbled something – fluent enough, as he did go to Cambridge – but gave nothing away, like the PM caught at Prime Minister’s Questions with an unexpected question.

But now it is going to happen. The people who are designing the museum are coming from Manchester to look at my treasures. They asked for a list but I said, “No chance.” I must have 2,000 items of Spurs memorabilia. I could be dead by the time I finish listing them. They’ll have to see them, in the flesh, and then they’ll be free to take away whatever they might consider worth having in the new museum.

I’m awfully kind that way, partly because I have always looked on supporting Spurs as a form of charity. You don’t expect any reward. Nor could you expect a great deal of pleasure, these past few decades, and certainly not the other day at Liverpool when they were shite. But you do want to help them, poor things.

I have been downsizing since my wife died, and since we sold our Loweswater house, and I’m now clearing out some of my treasures. I’ve donated a very rare Wordsworth book to Dove Cottage, five letters from Beatrix Potter to the Armitt Library in Ambleside, and handwritten Beatles lyrics to the British Library. If Beckham and I don’t get a knighthood in the next honours list, I will be spitting.

My Spurs stuff includes programmes going back to 1910, plus recent stuff like the Opus book, that monster publication, about the size of a black cab. Limited editions cost £8,000 a copy in 2007. I got mine free, as I did the introduction and loaned them photographs. I will be glad to get rid of it. It’s blocking the light in my room.

Perhaps, depending on what they want, and they might take nothing, I will ask for a small pourboire in return. Two free tickets in the new stadium. For life. Or longer . . . 

Hunter Davies is a journalist, broadcaster and profilic author perhaps best known for writing about the Beatles. He is an ardent Tottenham fan and writes a regular column on football for the New Statesman.

This article first appeared in the 16 February 2017 issue of the New Statesman, The New Times