Government vice-president and Finance Minister Evangelos Venizelos warned on Saturday that "Greece is worn out and desperate, and is in danger of making a huge mistake,” addressing the PASOK party's parliamentary group.

He underlined that the real dilemma regarding the new bailout plan, which emanates from the Oct. 26 EU summit agreements, is the sacrifices foreseen (in the plan), as opposed to even more sacrifices, national humiliation, cutbacks and squalor. amna

He ruled out so-called 'alternative solutions' of unruly and structured default, saying that in both cases this would be translated into more conditions, "ones taken at gunpoint".

Venizelos said an unruly default would bring Greece to the verge of civil war, followed by the "the glorious Greece of the drachma, where those who have exported their money abroad will come back to buy the country under colonial terms."

In his address to Parliament's economic committee later in the afternoon, which convened to discuss the new bailout plan, he added:

"If we don't approve the measures we will be led to an unruly bankruptcy, which means total dissolution of the economic, social and institutional web of the country."