WNU Editor: To put it bluntly .... "the shit has hit the fan". Greece may be rejoicing in their vote today .... but the EU, bankers, IMF, other lenders .... their response to such an overwhelming result will "not be kind" .... they are going to cut off the credit lines, banking assistance, and all the other means that Greece's financial institutions need to survive. As I had mentioned in previous posts .... a Greek No will mean very tough times ahead .... and it will last for at least 5 years (if not longer). Is Greece prepared for such austerity .... I doubt it .... but I do know one thing .... the next few years are going to be very tough for the Greek people .... especially for those who are dependent on the government for help. On a side note .... expect the markets to be in chaos Monday morning.
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My Take On the Greek Referendum
WNU Editor: To put it bluntly .... "the shit has hit the fan". Greece may be rejoicing in their vote today .... but the EU, bankers, IMF, other lenders .... their response to such an overwhelming result will "not be kind" .... they are going to cut off the credit lines, banking assistance, and all the other means that Greece's financial institutions need to survive. As I had mentioned in previous posts .... a Greek No will mean very tough times ahead .... and it will last for at least 5 years (if not longer). Is Greece prepared for such austerity .... I doubt it .... but I do know one thing .... the next few years are going to be very tough for the Greek people .... especially for those who are dependent on the government for help. On a side note .... expect the markets to be in chaos Monday morning.