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And seeing as we’re discussing Greece… default day arrives June 30, 2015

Posted by WorldbyStorm in Uncategorized.

So, it has come to this then.

Greece is expected to default on its debt to the International Monetary Fund and see its bailout deal expire later today.

By falling into arrears on its IMF debt it will mean it can no longer borrow from the fund.

It’s an abysmal situation – and there are no real upsides – but SYRIZA has pretty much done what it said it would do. And this is interesting too, Tsipras talking last night:

“The greater the number of no [votes], the greater the weapon the government will have to relaunch negotiations. Greece never left the negotiating table, it is still at the negotiating table. ”

Appearing by turns combative and nervous, the 40-year-old leader suggested, for the first time, that he and his radical left Syriza party would resign if the yes vote triumphed in the referendum.

“We will respect the result but we will not be there to serve it,” he told the station.

Where does this go next?


1. que - June 30, 2015

Usefully the Greeks, and it is the Greek govt. acting in the interests of the Greek people first and foremost as an example of positive nationalism doing this hard work against the entrenched interests, well usefully they have proposed a new document to the troika and the more they can set this in a context of continued negotiation the more they can buy time. No need to convince people here but a note vote will load the gun for the Greek govt.


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