Time is running out, fast

George Papandreou?s handling of the issue of state asset selloffs has opened a whole new can of worms.

Following his convoluted reaction to the troika?s press conference, the prime minister now faces an uprising from within his own party which threatens to upset the voting process on key reforms outlined in the Memorandum.

It is becoming increasingly clear with every day that passes that there are only a handful of officials in government who understand that the danger of bankruptcy is very real indeed and that this is a critical moment for the country as a whole.

But, this impasse is the fault of Papandreou, because he never dealt with making sure that his administration functioned in a coordinated manner, and especially not on matters concerning the management of the crisis. Now, Greece is running out of time and the premier will soon have to choose between defaulting or committing political suicide. Right now, his inability to get a handle on the situation makes it look like he?s heading in the direction of both.

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