Economics

Papandreou Gamble on Democracy Sours as Vote Plan Hastens Exit

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George Papandreou took a gamble on the most ancient of Greek traditions: democracy. Unlike his past success in extracting European bailout packages that avoided default, this idea helped lead to his departure.

During his two years in office, Athens became the nucleus of the European debt crisis and the Greek prime minister was its public face. While his legacy may be that of a man who tried to save the euro, he leaves his country struggling to maintain the needed flow of foreign aid.