I am sure by now you have heard that the citizens of Greece voted no to austerity and the latest deal that was presented to their country.
Here's a question for you, how is it that a small country like Greece with only 6.6 million people can suck in so much money from the international banking community?
It may be just a normal part of the Greek culture that they use deception to get what they want. Look back in history it started with the Trojan horse that the Greeks used to enter the city of Troy and win that war.
More recently in order to gain entry and acceptance into the European Union in 1981 and to later adopt the euro as its official currency in 2001. This was all done with deception, as the Greeks stated that their debt to GDP was 5% when in reality it was 15% and on an unsustainable track. I am sure that the Greeks looked upon it as another Trojan horse and they got what they wanted.
To put this perspective, the Greek economy only accounts for 2/10 of one percent of the world economy. In other words, it's not an economic powerhouse by anyone's imagination.
The question now is with the contentious Greek finance minister Yanis Varoufakis resigning shortly after the 61.3% NO vote, can Greece make a deal. His departure/removal was a clear gesture by Prime Minister Alexis Tsipras that he wants to begin fresh debt renegotiation.
The vote is indicating that Greek people did not want, nor would accept more austerity for their poor beleaguered country. Who in their right mind would vote to hurt and punish themselves? It was a brilliant political move by Prime Minister Alexis Tsipras to call the referendum when he did.
Okay, now for the big question, what's this No vote going to do to the markets? Continue reading "The "NO" Vote Heard Around The World"
