Whatever the result of the Greek Referendum is this Sunday, it would seem that all the Greeks who vote are simply all against the continuation of austerity.
This Referendum comes after more than five months of barren talks, during which time the Greek economic condition has got worse.
Creditors accuse Tsipras of being responsible for the breakdown in the talks, but have they agreed to the major write-off of the Greek debt which was and still is, his major demand in negotiations ? No !
Are the creditors not still haunted by the fact that Greece already had too much debt before they agreed to the last loans in 2012 ? In fact, were the creditors then not terrorised by the thought that Greece might leave the EUROZONE and that this could lead to speculation against the EURO ?
This, in fact, is exactly what could happen shortly ! Tsipras will declare Greece bankrupt and adopt a new currency ! The EUROZONE then will have to write-off all their Greek Debts !
This Blog really did think that the EUROZONE would propose a MORATORIUM on debt repayments by Greece. This would have saved the blushes of all concerned !
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