Bob Chapman : The European leaders at the G8 meeting in Cannes France are questioning why Papandreu have decided to have a referendum , it's pretty obvious why , everybody in the country hates him they probably like Mr Sarkozy better than they like him , incidentally Sarkozy happen to be half Greek , what's going to happen here is that they are going to have the referendum they cannot reverse it now , and why he did that because he is going to be kicked out of office and he do not want to get blamed for all of this so what he is doing here knowing that the Greeks are going to vote against , and so when the Greeks will vote against he Papandreu will be able to blame this problem on the Greek people this is what he is up to here and no matter what happens he is out of office ...this is is on the edge of collapse , they are buying time ....85 percent of the derivatives are custom made , it is just a matter of time before derivatives collapse
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