Greeks, what will you vote?

[palou]

routsounmanman said:

nanarchy said:

Iceland didn't default, the iceland privately owned banks did, they collapsed completely leading to a meltdown of their financial system and currency, the government had to nationalise the banking system and secure very large loans from the IMF. because of that iceland still has a massive debt to pay. Also it didn't recover in a year, it took about 4 before they started to grow again and they are still under capital controls.

Meanwhile, Greece opted to not default, take crazy amount of austerity measures and is in a worse condition than it started (exluding the primary surplus).

GDP -26%

Unemployment 27%

Pension / Wage cuts 30 - 50%

Debt 170% of GDP 

What do you hpe from a default?

Greece has no insdustrial sectors to take profit of a week dachme, and the new government & local banks won't have money to help create new ones.

A week currecny will just further reduce the country's GDP, by alot.