Quote:
Originally Posted by Torplexed
If you are hearing a lot of “coulds” and “mights” lately, it’s because after the people’s “No” vote, Greece is sailing into some seriously uncharted waters. What is certain is that there is much more ambiguity to come, since there isn't much historical precedent to go by.
To make matters worse, events will take an even more dramatic turn on July 20th, when Athens is due to pay the ECB 3.5 billion euros. If Greece misses that payment, the central bank will probably conclude that the state is bust and, because of the way the country’s banks are connected to the government, that they are insolvent too. That could mean that even tourists couldn't withdraw money from banks, killing tourism, and there goes the last frail, creaking prop holding what is left of the Greek economy up.  |
You put it better than I possibly could. No-one can be sure what's going to happen next, guesses can be made, assumptions drawn, but honestly no-one can be sure.
The UK has its budget report on Wednesday, which is going to be...difficult for large swathes of the country. Certainly not Greece level difficult, but the same complaint could be made of the process. Attack the poor and defend the rich, because the rich can move countries whereas the poor are stuck, ready to be milked whenever demanded.
