Reuters TV Interview - Bailout Referendum

Former Greek Finance Minister Yannos Papantoniou says the issues surrounding Europe’s rescue package for his country are too complex to be addressed in a referendum...

Greek Prime Minister George Papandreou's shock decision to call a referendum on the country's rescue package has sent global stock markets tumbling. To discuss the wisdom of the move, we're joined by former Greek Finance Minister Yiannos Papantoniou. Mr. Papantoniou, what do you think changed between 4AM Thursday in Brussels and last night? I think what perhaps changed is that the mood of the Parliamentary party and of the Greek society as a whole was very skeptical about the whole policies that led to that particular agreement. And the Prime Minister was very pressed about this and decided to go to referendum in order to seek legitimacy for these policies; although the obvious way to do that will be to call early elections.

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