Greece To Hold Surprise Referendum on Bail Out

... while the rest of Europe (and let's face it, the world) tugs at their collar.

Hey, remember last week when the leaders of the European Union countries got together and saved the world with their three-pronged solution to the eurozone debt crisis? Well, it looks like Greece isn't having any of it, as Prime Minister George Papandreou says he will hold a referendum in which Greek voters (who are really kinda peeved at the EU's intervention ) will get to decide if they want to accept the EU's bail out – and the austerity measures that go along with it. Under the eurozone plan, half of Greece's debt would be written off by the banks holding it, and the country would get a sweet 130 billion euro infusion. But the country would also have to trim much of its bloated bureaucracy and cut social spending and so on to get its financial house in order. There is little indication that a majority of the Greek population would support such a measure, which could spell the end of the plan once the referendum is held early next year. Until then, expect a few months more of market chaos and Greeks hurling Nazi comparisons toward the Germans.