Greece votes 'no' to EU bail out - GREXIT?

Greece voted 60% no to EU bailout.

Greece will be leaving the EU according to the EU.

www.telegraph.co.uk...

www.telegraph.co.uk...

The left-wing Syriza government will have won
A "No" vote will be an endorsement of the left-wing Syriza government's view that the austerity package attached to Greece's bail-out deal is too harsh. Leftist opponents of “austerity economics” across Europe and beyond will rejoice, as will critics of the EU’s bureaucracy, at its having received a bloody nose. EU governments will be furious at having to continue to deal with Alexis Tsipras, its prime minister, and Yanis Varoufakis, the finance minister, whom they have come to loathe. Expect more anti-eurozone rhetoric from similar radical parties across Europe, like Spain’s Podemos

Greece will leave the eurozone
That is what the EU says, and is likely to happen.Without a deal, it will be cut off from long-term funding from the European Central Bank, and will have to default more widely on its debts. The assumption is that it will effectively devalue by printing its own currency, and start again. However, both the Greek government and some financial analysts say there is no reason why it should not default on its debts, agree a new financing deal, and stay in the euro. Although the EU will not want to agree this, it may in the end prefer it to a breach of the principle that eurozone membership is irreversible.

Greece will run out of cash
All eyes will turn to the ECB, which on Monday will have to decide whether to continue to extend its emergency financial lifeline to the Greek banks. The Greek banks are at risk because they carry a heavy exposure to their government's own debt. If the government can’t pay, and the banks go bust, then … it is not clear what happens to savers’ money.

Greece will have to find a factory to print drachmas
British firms like De La Rue, which prints 150 currencies worldwide, are believed to have been contacted with a view to providing such services. It's done in great secrecy to prevent currency speculation. The other big problem is the logistical challenges of switching a currency. All ATMs, computers and other machinery of commerce that bears the euro symbol will have to be adjusted. It could, and would, take months.

Greece’s economy will (still) be in ruins.
Many Greeks see the austerity reforms as a much-needed measure to make the country more economically dynamic. They fear that leaving the Eurozone will make Greece even more backward, and remove the one powerful check on Syriza's more radical elements. Feelings are running high on both sides.

What does it mean for the rest of us?
Britain has looked on from the sidelines - but a No vote will be a shot across the bows of EU leaders that they cannot take risks with public opinion in eurosceptic nations. On the other hand, Britain’s economy is at risk - as is the rest of the world’s - if the eurozone begins to melt down. EU leaders are confident it will not, but they have been wrong before.

Will tourists be affected?
Foreign bank accounts are not subject to the same 60 euro withdrawal limit as Greek ones are, but cash machines are already running short, and it is hard to see how a “No” vote will make things better. Increasingly, shops and other businesses have asked for payment in cash, too, rather than by card. Tourists are likely to continue to be able to pay in euros - and indeed, will welcome them all the more.

Can I cancel my holiday?
No. Tour companies will only refund holiday bookings if the Foreign Office warns against travel - currently they are just advising caution near demonstrations (against theft) and to take extra euros.

www.telegraph.co.uk...

EU warns of Armageddon if Greek voters reject terms
"Without new money, salaries won't be paid, the health system will stop functioning, the power network and public transport will break down," warns President of European Parliament

Greece risks a collapse of the medical system, power black-outs, and an import blockade, if the Greek people reject creditor demands in a make-or-break referendum tomorrow, the EU's highest elected official has warned.

Martin Schulz, the president of the European Parliament, said the EU authorities may have to prepare emergency loans to keep basic public services functioning and to prevent the debt-stricken country spinning out of control next week.

"Without new money, salaries won't be paid, the health system will stop functioning, the power network and public transport will break down, and they won't be able to import vital goods because nobody can pay," he said.

a reply to: theabsolutetruth

Oh.....Crap this could be bad for the worlds economies........This is bigger than any bank failure. I am not sure if they made the right choice or not.

Greece leading the way........ Go Greece................................................................we're behind ................you.

a reply to: SubTruth

It was a democratic vote, sort of ironic seeing as democracy is traceable to Athens, though they will need loans from the EU to maintain services.

These people will need the worlds help in the short term....What can we do. I dont mind sending parcels of whatever. Maybe organise aid convoys or something.? The IMF can shove their debts up their arses as far as i'm concerned.

I can see this happen in the next few days. Massive online help springing up all over the net. It's the only way we are gonna beat TPTB.

What you say folks. are we in?

originally posted by: theabsolutetruth
a reply to: SubTruth

It was a democratic vote, sort of ironic seeing as democracy is traceable to Athens, though they will need loans from the EU to maintain services.

What the Greeks should do is fail.......Re-write the constitution giving themselves rights similar to the US constitution. And than just follow it like we should have.......It is a recipe for success.


After thinking more about this......They should do it. They are a strong people and it will work in Greece.

How's the World stock markets looking so far...?

a reply to: Soloprotocol
In the recent past the international money people wrote off quite a few African countries national debts (notice wrote off not bailed out) to the tune of billions. So why wont they do the same for Greece.
The reason being is they see the African nations as the third world, whereas Greece is part of the modern western world and in consequence if they let them off with the debt then why not let off the UK or other countries.
All of this is just the international money men flexing their muscles to send a message to other countries ie. Don't cross us or WE WILL break your country.
They want seriously castrating.

Greek referendum: a "No" vote does not mean Grexit
www.ibtimes.co.uk...

Why there 'll be no Grexit
www.msn.com...

a reply to: Soloprotocol

Yeah Greece, pretty similar to the size of Scotlands economy lol

a reply to: Soloprotocol

I like your idea. Also, good way to let the IMF and elite bankers know the world is sick of them.

originally posted by: crayzeed
a reply to: Soloprotocol
In the recent past the international money people wrote off quite a few African countries national debts (notice wrote off not bailed out) to the tune of billions. So why wont they do the same for Greece.
The reason being is they see the African nations as the third world, whereas Greece is part of the modern western world and in consequence if they let them off with the debt then why not let off the UK or other countries.
All of this is just the international money men flexing their muscles to send a message to other countries ie. Don't cross us or WE WILL break your country.
They want seriously castrating.

Exactly, that's why we, the people of the world, who are fighting this false austerity inflicted upon us need to make sure the people of Greece are never broken. If we can do it for one Country then we can sure as hell do it for all. Smash The IMF and the corrupt Banksters.

This could be the straw that Breaks the Camels back...It's a Us or Them situation like never before. If Greece win, TPTB will have lost so much hold and power over the ordinary peoples of this World..If TPTB are allowed to win, then all hope is lost as far as i'm concerned. We will never have a better chance to have a crack at them.

originally posted by: grainofsand
a reply to: Soloprotocol

Yeah Greece, pretty similar to the size of Scotlands economy lol

I was wondering when your fixation with Scotland might arise again...Predictable. Jog on.

a reply to: crayzeed

Also Germany's dept was half ed after the 2nd world war
But Merkel doesn't want to remember that, they also don't remember the gold they stole from Greece back then!

But if there is an agenda to suck a countries resources and make a dirty cheap workers China inside Europe.

The debt is their only weapon to do it!

originally posted by: Soloprotocol

originally posted by: crayzeed
a reply to: Soloprotocol
In the recent past the international money people wrote off quite a few African countries national debts (notice wrote off not bailed out) to the tune of billions. So why wont they do the same for Greece.
The reason being is they see the African nations as the third world, whereas Greece is part of the modern western world and in consequence if they let them off with the debt then why not let off the UK or other countries.
All of this is just the international money men flexing their muscles to send a message to other countries ie. Don't cross us or WE WILL break your country.
They want seriously castrating.

Exactly, that why we, the people of the world who are fighting this false austerity inflicted upon us need to make sure the people of Greece are never broken. if we can do it for one Country then we can sure as hell do it for all. Smash The IMF and the corrupt Banksters.

This could be the straw that Break the Camels back...it's a Us or Them situation like never before. If Greece win TPTB will have lost so much hold and power over the ordinary peoples of this World..If TPTB are allowed to win, then all hope is lost as far as i'm concerned. we will never have a better chance to have a crack at them.

Not often I agree with you man, but I do here.

originally posted by: Soloprotocol
These people will need the worlds help in the short term....What can we do. I dont mind sending parcels of whatever. Maybe organise aid convoys or something.? The IMF can shove their debts up their arses as far as i'm concerned.

I can see this happen in the next few days. Massive online help springing up all over the net. It's the only way we are gonna beat TPTB.

What you say folks. are we in?

You wanna beat the PTB.........People need to stop buying into the progressive ideals that PTB push using the media and schools. Nanny state governments fail and so do democracies. Democracies always turn into Oligarchies and than devolve into tyranny.


Individual rights and the liberty it brings are the only recipe for real long term success. When you put the rights of the masses first it will fail in time............

Another view ....

Greece – What You are not Being Told by the Media

Every single mainstream media has the following narrative for the economic crisis in Greece: the government spent too much money and went broke; the generous banks gave them money, but Greece still can’t pay the bills because it mismanaged the money that was given. It sounds quite reasonable, right?

Except that it is a big fat lie … not only about Greece, but about other European countries such as Spain, Portugal, Italy and Ireland who are all experiencing various degrees of austerity. It was also the same big, fat lie that was used by banks and corporations to exploit many Latin American, Asian and African countries for many decades.

Greece did not fail on its own. It was made to fail.

originally posted by: xuenchen
Another view ....

Greece – What You are not Being Told by the Media

Every single mainstream media has the following narrative for the economic crisis in Greece: the government spent too much money and went broke; the generous banks gave them money, but Greece still can’t pay the bills because it mismanaged the money that was given. It sounds quite reasonable, right?

Except that it is a big fat lie … not only about Greece, but about other European countries such as Spain, Portugal, Italy and Ireland who are all experiencing various degrees of austerity. It was also the same big, fat lie that was used by banks and corporations to exploit many Latin American, Asian and African countries for many decades.

Greece did not fail on its own. It was made to fail.

What if..........What if they wanted Greece to fail as a message to the rest of the member countries. If they do exit the Euro times in Greece will become very hard I think. TPTB will want to send a clear message about what happens when you exit to Italy and Spain.

a reply to: theabsolutetruth

Hellas, Greece, this is what democracy looks like
They chose a hard time now but with a chance for recovery later.
Better than to be an EU and bankstersslave forever!

The normal(not the rich) greece people were destroyed by the rich, the banksters, the EU, now they decided to try something new, they have nothing more to lose anyway.

I wish that they can show other nations like Spain or Portugal that this was the right decision, but i am afraid that the banksters, the EU, the rich and powerfull will now do whatever they can so that greece can´t recover, whatever they will do, and even if everything is right what they do.
So that Greece can´t be an example for other EU-states, how right it is to free yourself from slavery.

To the brave greece people, i wish you all the best!!!

originally posted by: Dr1Akula
a reply to: crayzeed

Also Germany's dept was half ed after the 2nd world war
But Merkel doesn't want to remember that, they also don't remember the gold they stole from Greece back then!

But if there is an agenda to suck a countries resources and make a dirty cheap workers China inside Europe.

The debt is their only weapon to do it!

The Germas also sent away your Jewish Greeks on death trains and murdered them while also killing masses of Christian Greeks too and causing tragedy on many of the survivors. They destroyed Greece and please Mrs Merkel and your German politicians YOU DID THIS WITHIN LIVING MEMORY Germany is incredibly wealthy and it's time to let Greece off the hook and pay off its debts. This is one way Germany you can in a way redeem yourself.