Brussels Waiting for the Written Guarantees from Greece

To Vima reports: Brussels is waiting for the written guarantees from PASOK and New Democracy that the austerity measures will be implemented as agreed. No signatures, no cash.

It is not clear whether Mr. Samaras has put pen to paper. Oral commitments are apparently not acceptable to Brussels.

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The Greeks still have their philotimo and sense of humour, at least: see The Haircut

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Charlemagne (The Economist): Europe Against the People?

Misha Glenny in The Financial Times, November 7th: The real Greek tragedy- its rapacious oligarchs

"As the new Greek government struggles to convince Europe of its resolve to cut the country’s bloated public sector, it also has to decide whether to face down the real domestic threat to Greece’s stability: the network of oligarch families who control large parts of the Greek business, the financial sector, the media and, indeed, politicians.

Since Mr Papandreou became prime minister, his government has been trying to crack down on habitual tax evaders. He made clear in a speech to parliament on Friday how deep his concerns are regarding the more dubious activities of some of Greece’s banks. We can only hope that the Black Rock audit, ordered by the troika, will be suitably forensic in uncovering what has really been going on in the financial system".

Misha Glenny also points to the impact on the London property market, as wealthy Greeks snap up real estate.

The interim government will have a busy agenda. No wonder Brussels wants commitments in writing.

UPDATE, 14 November: Samaras refuses to sign

Kathimerini:

Samaras also said he would not sign any letter pledging support for conditions on a 130 billion euro bailout as EU Economic and Monetary Affairs Commissioner Olli Rehn has demanded.


"I don't sign such statements,» he said, adding that his word should be sufficient.


Rehn suggested last week that Samaras, former prime minister George Papandreou, new premier Lucas Papademos, Finance Minister Evangelos Venizelos and Bank of Greece governor Giorgos Provopoulos would have to sign the documents for Greece to receive its next loan instalment of 8 billion euros.


ND = No Deal??