posted on Jul, 14 2015 @ 06:28 AM
That is still an uncertainty, what is happening now is that the Greek government has to re-implement the reforms which they had lifted and implement
A grexit is by no means of the table, Greece has a choice, leave the eurozone as Syriza intended to do, or comply to the terms which were set during
the negotiations in order to stay in the eurozone.
The new bailout will be alot higher than previous because of the damage that was caused to the economy of Greece in the last 6/7 month's.
The terms for a new deal are a lot harsher than the previous deal which was voted down through the referendum.
Only France, Italy and Cyprus wanted Greece to stay in the eurozone, they fought for Greece to get a deal done while the other memberstates of the
eurozone wanted Greece to leave.
I wonder at what cost France, Italy and Cyprus want Greece to be part of the eurozone, for Greece it is probably better to leave and receive aid from
the EU while debt will be restructured.
Leaving is by no means the solution, businesses have already been looking to move to Cyprus at the end of June, it would mean Greece has to build up
anew from the ground up and people see their savings and pensions go up in smoke with the introduction of the new drachme.
The outstanding debt remains in euro's and grows even larger while the economy shrinks another 50 percent.
In my view we have to help Greece and debt reductions should be on the table, but not before Greece reforms and tackles the huge corruption and
evasion of taxes.
Anyway, not only Greece must agree to a third bailout, every memberstate of the eurozone must agree to it through a parliamentary vote.
The effort for now for Greece is to comply with the terms in order to get a bridge finance which will help Greece until the end of August, during this
period the negotiations take place for the third bailout and probable debt restructuring.