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Greece Defaults. What now?

Forums - Politics Discussion - Greece Defaults. What now?

Due to it's specific challenges I think that Greece is very hard to rescue with austerity (imo it does work well for several other countries), so I welcome this vote as it will facilitate their return to an independent monetary policy with their own currency.



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We made it!!!! "No" Won. After all that disgusting propaganda by the media, the people choose what they believed to be the best choice.



Volterra_90 said:
Dignity wins this time. Let's hope that the anti-austerity movement will grow after this. Go, greeks!


Or it would well show that the anti-austerity movement is severely blinkered and the poor Greek population will pay the heaviest price for such whimsical economic views.

However, a life outside the Euro is probably the best for Greece in the long term. The economy is pretty incompatible with the Euro and in all honesty should never have been allowed to join the single currency in the first place. It's just a shame it's not the people who set the Greek economy up to fail that are going to be the ones paying the price.



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First sensible things they've done. You can't begin to correct the problem unless you acknowledge you have a problem.



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Lafiel said:

Due to it's specific challenges I think that Greece is very hard to rescue with austerity (imo it does work well for several other countries), so I welcome this vote as it will facilitate their return to an independent monetary policy with their own currency.

where did austerity work?



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palou said:

Predictions.


Hopefully, this gives governments the opportunity to rethink the entire monetary policy. 



Isnt it only like 20% of the vote is counted so far? but seems to be winning 59% of the vote as NO.

I wonder what this will mean for Greece.. what happends in 10days to them, if no wins?


I read the banks imposed a restriction on all greeks, that you can only get 60 euro out of your bank account, each day.

Private bank box's with money saved are closed as well. Thats gotta be weird.



JRPGfan said:
Isnt it only like 20% of the vote is counted so far? but seems to be winning 59% of the vote as NO.

I wonder what this will mean for Greece.. what happends in 10days to them, if no wins?


I read the banks imposed a restriction on all greeks, that you can only get 60 euro out of your bank account, each day.

Private bank box's with money saved are closed as well. Thats gotta be weird.


they are at 50% counted and 61% no.



Well hope it works out for the greek people. If there is no deal soon , new draschmas have to be printed.

My guess is that Tripras want a deal Quick anyway , but will the other 18 euro finmin agree ?



krippaz said:
Well hope it works out for the greek people. If there is no deal soon , new draschmas have to be printed.

My guess is that Tripras want a deal Quick anyway , but will the other 18 euro finmin agree ?


wrong question, the right question is: will schäuble(german finmin) stand up(realy no pun intended,but i cant come up with another phrase in english) against the german media?

the right wing media are in full greekbashing mode and the liberal media doesnt understand how neoliberalism could fail again.

 

schäuble is old and cares alot for europe, so he might go the cheaper way and says yes to another bailout, with less austerity but more other way of reducing the debt like a smaller greek army, higher taxes, etc.