The week in economic perspective – The big bad wolf

Greek Prime Minister George Papandreou is certainly not the most popular statesman in the European Union (EU) after the stunt he pulled this week. Following his call for a national referendum on last week’s proposed EU debt deal he really painted himself as the EU’s big bad wolf. The deal, comprising a €130bn rescue package for the eurozone, including an €8bn slice for Greece, almost unravelled before it could kick in. Global financial markets tumbled in reaction, losing most of the progress made last week.  Read more