What the EUROZONE negotiators feared most has now become a reality ! Tsipras has announced a Referendum will be held next Sunday, July 5, 2015.
In addressing the Greek Parliament, he said that the current EUROZONE propositions should be refused. A "NO" vote implies that Greece would be obliged to leave the EURO and EUROZONE !
This Blog in its Article (1) on June 16, 2015 clearly stated that a moratorium by the EUROZONE, of capital repayments coupled with a cancellation of interest during 10,15 or 20 years could be a solution to save the faces of all the parties involved in the negotiations !
Through his Twitter Account, Dominique Strauss-Kahn the former President of the International Monetary Fund also suggested yesterday that a Moratorium could have been defined to arrive at a solution.
Several recent articles in this Blog have clearly pointed out that there would be repercussions for the EUROZONE if a reasonable solution agreeable to Greece was not proposed !
Angela Merkel and her team cannot just sweep problems like this under the carpet !
(1) Read : " "Grexit" is the only solution left for Greece !", published June 16, 2015.
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