For anyone owndering what the fuss was about concerning yesterday's vote - keep on wondering ?

http://globaleconomicanalysis.blogspot.com/2012/02/cracks-in-agreement-in-greece-finland.html

Greek Party Leader Might Seek to Renegotiate Terms
Social unrest harms hopes of Greek reform

Sunday’s explosion of street violence in Athens underlines the danger that political disorder may undercut Greece’s attempt to implement the economic reforms required to avert a debt default, according to Greek politicians and economists.

Although parliament passed the measures, the rebellion and the urban violence raise the prospect that the next Greek government, which will take office after elections set for April, will lack the authority and determination to hold firm to the austerity course.

According to opinion polls, the election’s most likely outcome is a victory for the centre-right New Democracy, but without an overall majority.

Antonis Samaras, leader of New Democracy and the likely next prime minister, and Evangelos Venizelos, finance minister and one of Pasok’s senior figures, are both pledged to the austerity plan dictated by Greece’s European and International Monetary Fund creditors. But Mr Samaras appeared to put his personal commitment in doubt when, before the vote, he suggested to his party faithful that he might seek to renegotiate the plan’s terms if he became prime minister.

Unless and until all political parties agree to the terms Germany will not OK the plan. Yet, how can anyone agree to what they cannot control? Election outcomes are not cast in stone. 

The Guardian says the same thing in Eurozone Crisis Live: "New Democracy wouldn't confirm today that their leader, Antonis Samaras, would sign the pledge. Without his signature, Greece still wouldn't get the bailout package."


and.....


http://www.ekathimerini.com/4dcgi/_w_articles_wsite2_1_13/02/2012_427623

Athens, Helsinki to sign collateral deal Finland may sign a deal on securing collateral in exchange for its commitment to Greece’s second bailout in the “next few days,” Finance Minister Jutta Urpilainen said on Monday. A vote in parliament on Finland’s participation in the bailout could follow next week, she told reporters in Helsinki. Euro-area finance ministers share a “very strong” common stance in their view on what Greece must do, namely act on its pledges of austerity before more aid can be released, she said. Finland, one of four AAA-rated euro members, last year became the only nation in the currency bloc to secure extra assurances that its commitments to a second Greek rescue be repaid by insisting on collateral. In return, Finland agreed to pay its contribution to the permanent rescue facility, the so-called European Stability Mechanism, up-front. “I hope we could sign the collateral agreement in the next few days,” Urpilainen said. “These conditions must be fulfilled before Finland’s parliament can give a green light” to a second Greek bailout. [Bloomberg] and.... http://www.thelocal.de/national/20120212-40685.html Seehofer calls for people's vote on euro Published: 12 Feb 12 11:04 CET Share Horst Seehofer, the head of the Christian Social Union party, wants Germans to vote on whether the euro should be saved or not and is calling for a change to Germany’s Basic Law, or Constitution, to allow that to happen. Deutsche Bank 'to pay €800 mln' in Kirch case (13 Feb 12) Greece leaving the euro not so scary - Germans (13 Feb 12) Merkel's French connection (10 Feb 12) The “Grundgesetz” guarantees citizens essential rights, the CSU chief said in an interview with the newspaper Welt am Sonntag. The CSU is the Bavarian sister party to Chancellor Angela Merkel’s ruling Christian Democratic Union party. Seehofer told the paper that the law says “all of the state power comes from the people.” The law allows for votes and referendums, but referendums are allowed for only two reasons: when deciding about a new division of the German states or whether the basic law should be changed by a new one, the paper wrote. Since the Federal Republic was founded in 1949, there has never been such a German-wide referendum. The opposition Social Democratic Party and the Greens have long called for more direct democracy, something Merkel's government has continuously rejected. But now Seehofer is calling for such an element to be written into the constitution, the paper wrote. He doesn’t want significant decisions in European policy to be decided by the German parliament alone.“The CSU is for a people’s vote in Germany over the basic questions about Europe. That’s a good path to bring the European idea closer to citizens,” Seehofer told the paper. The instrument of a people’s referendum should be anchored in the German constitution, he told the paper. A week ago the Ferdinand Kirchof, the vice president of the Federal Constitutional Court, told the paper that Germany “finally needs a direct democracy in the EU,” saying Brussels had distanced itself from European Union citizens and from the home regions comprising the EU. Seehofer rejected the widespread view that if there had been a people’s vote, the euro would never have been introduced. “I don’t agree with that notion,” Seehofer told the paper. “Unpopular decisions have a chance to be approved by citizens. You have to make the effort to explain why and be transparent about it. People are smart enough even to vote on difficult questions.” Referendum skeptics say key decisions, like the rearmament of Germany, its East Bloc policy and the unification of the country, would not have been possible if a people’s vote had been in place. Seehofer said a people’s vote is needed when a certain level of financial backing is made for the euro deficit countries. “I think it is very important to allow citizens to have this control over power.” European Parliament President Martin Schulz agrees there should be more direct democracy for EU citizens, but notes that the CDU and CSU have not been in favor of this. “I wonder when it comes to Europe how some are in favor of a referendum when they have until now always prevented that from happening on a national basis.”

and....


French Candidate Hollande Intends to Reopen Treaty Discussions 

Hollande insists on fiscal treaty move

The main opposition candidate for the French presidency has spelt out his intention to reopen discussions on the new European treaty with all signatory countries if he wins the election, a move that would throw into doubt the results of months of negotiations by his opponent Nicolas Sarkozy and the German chancellor Angela Merkel.

François Hollande, the Socialist candidate currently leading the polls in France’s presidential election campaign, brushed aside stern warnings from Mr Sarkozy and Ms Merkel that the treaty – due to be signed by 25 European Union countries in early March – would have to be respected by any new president.

The opposed positions of Mr Hollande and Ms Merkel – who has pledged to campaign for Mr Sarkozy – suggest a difficult relationship if he is elected. So far she has declined to meet him ahead of the vote. He said he would travel to Berlin for such a meeting, but added: “I won’t knock at the door if she doesn’t want to open it. That’s unpleasant for me.”

He said the treaty would not have been ratified in France and several other countries before the election, which will be held over two rounds on April 22 and May 6. “In France the treaty is ratified by parliament, not the head of state ... We have a window of opportunity [to renegotiate],” he said.

Summary from Mish.....

Does anyone seriously believe this penned agreement is worth the paper it's printed on. Actually, what makes anyone think there is an agreement in the first place?

This agreement is similar to the effect one would get attempting to use use duct tape, glue, and rubber band, to hold together blue cheese.