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November 02, 2011 | | EURO ZONE Greek Prime Minister George Papandreou spooked world markets with his announcement that he would put his country’s euro-zone bailout up to a vote. And that’s exactly what he wanted, writes Robert Kuttner of The American Prospect. Germany is standing firm on the conditions already set on the bailout—including a 50 percent reduction in Greek debt held by banks—but Kuttner says the banks are playing with the fine print in ways that could put Greece right back in the austerity trap. Papandreou’s proposed referendum is a message to Europe’s financial and political leaders that they can’t alter the terms of the deal by stealth, because if it’s altered much more, default might start to look like a better option. “Papandreou’s is a brave, nervy, high-stakes move,” writes Kuttner, “and one that deserves our respect.” THE RACE IS ON The GOP primary schedule is finally set. New Hampshire has scheduled its Republican primary for Jan. 10, just a week after the Jan. 3 Iowa caucus. South Carolina's will round out the month on Jan. 21. The date preserves New Hampshire's tradition of holding the first primary of the election season. GOP primary dates have been a subject of controversy as states pushed their dates earlier into the month, challenging New Hampshire's position. Republican candidates threatened to boycott Nevada's caucuses if the state kept Jan. 14 as the date. TEFLON A little criticism can’t bring Herman Cain down. Despite weeks of mudslinging against his 9-9-9 tax plan—and a harassment scandal that broke as the national poll from Quinnipiac was being compiled—Cain still leads the GOP field. In the survey of Republican voters, Cain receives 30 percent of support, well ahead of Mitt Romney at 23 percent. Even better for Cain is his favorability rating—82 percent find him likable, while only 5 percent do not. Meanwhile, a woman who accused him of harassment at the National Restaurant Association is threatening to tell her story. OLIVE BRANCH In a rare show of goodwill, Pakistan’s cabinet has voted to normalize trade relations with India, a key step in patching up the neighboring nations’ fraught relationship. Pakistan will grant “Most Favored Nation” status to India, meaning that the countries can trade on equal terms and eschew high tariffs. India accorded the same status to Pakistan almost 20 years ago, but Pakistan didn’t return the favor until now. The dueling neighbors have engaged in three wars since 1947, and their relationship was made even frostier when Pakistani militants pulled off a terror attack in Mumbai in 2008. TENSE Launching a surprise missile test isn’t going to do anything to quell reports that Israel’s cabinet is debating a strike on Iran. The Israeli paper Haaretz reported today that Prime Minister Benjamin Netanyahu and Defense Minister Ehud Barak are lobbying the cabinet to support a strike on Iran. That report comes on the heels of a report in the paper Yediot Ahronot that the two ministers support an attack. Several cabinet members have condemned the reports, but none have denied them, and one accused former defense officials of leaking classified information. Some commentators question how serious Netanyahu is about attacking Iran, and wonder whether the reports are part of a disinformation campaign to encourage foreign powers to toughen sanctions against the country. | | 
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