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Greek Vote: The Fallout

bsh1
Posts: 27,503
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7/6/2015 8:13:41 PM
Posted: 1 year ago
Now that Greece has voted against its creditors, is a Grexit inevitable? What will Greece's fate be? Will Russian influence there grow? Will other countries be negatively impacted by the fallout?
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dylancatlow
Posts: 12,244
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7/6/2015 9:10:32 PM
Posted: 1 year ago
I don't think anyone really knows, but one thing's for sure: Greece is fvcked no matter what happens. Just to give you a sense of how fvcked they are, Greece's unemployment is currently at 26 percent and their GDP is down ~25 percent since 2008, and that's in light of the fact that money equivalent to 10 percent of their GDP is borrowed government spending, which goes *poof* the instant they go bankrupt. Even if they manage to get a deal, it will only delay the inevitable. 50 percent of Greece's debt has already been forgiven, so I doubt they'll get much more.
dylancatlow
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7/6/2015 9:37:59 PM
Posted: 1 year ago
However, I'm not entirely sure what portion of that 10 percent is going toward the interest on the debt, and what portion is being injected into the economy. If Greece defaults, it's only the latter they need to worry about.