Papandreou backs down on vote for Greece's bailout deal

Papandreou backs down on vote for Greece's bailout deal

Press quote (USA Today)
04 November 2011

"They have no chance of returning to debt sustainability on the current course," said Simon Tilford of the CER. "Their economy is in free fall. Today's announcement will do nothing to reassure investors who believe that default - probably a disorderly one - is now inevitable."