Yes or no? What Greece's landmark vote means

"What Greece's landmark vote means"

With respect to the innocent people caught up in the middle of this, it does not mean anything. Governments borrowed money, squandered it, were economically inept, borrowed more and squandered more. Now, they want to change the terms of the deals after they have been made. As many have said, it is not now Greece's decision to make.

It's a lose-lose choice. Be devoured by a lion or be devoured by hyenas.

The Greek government and people are not responsible for a substantive proportion of these debts that is patently clear, evidence is unequivocal and provided by the IMF. Greece should have succumbed to insolvency before 2010, been afforded a exit route from the single currency and embarked on a root and branch reform and restructuring programme of anything and everything.

The referendum is a factious futility, a ludicrous irrelevance, grotesque in every respect as it undermines the very principal democratically elected government, and it diverts attention away from the true culprits the European Commission, and in many respects German Chancellor Merkel, Former French President Nicolas Sarkozy, and Former President of the European Commission José Manuel Barroso all should be called to give evidence formally at ECJ Judicial review.

Formal Impeachment proceedings of European Parliament president Martin Schulz, should begin immediately, his conduct and involvement to displace an elected government and citizens in the political decision-making process is inflammatory and incitement to unlawfully contravene the universal decoration on democracy enshrined within the Lisbon Treaty. A matter also for ECJ Judgement.

An illusion of choice.

It is impossible to predict the exact outcome of either Yes or No, because both depend on the follow-up actions of the players involved. But ONLY the "No" vote offers a chance for solving the problem, if it is followed by a return to the Drachma.

Hans Werner Sinn, head of the IFO, suggests the option of a temporary Grexit in "The Euro Trap":

http://ukcatalogue.oup.com/product/9780198702139.do

Fingers crossed for the people of Greece today as they head to the polls, all the best.

They have said no. What are they going to do for money now, go cap in hand to Putin and make a Faustian pact with the Devil?

I don’t blame entirely on current Greek Government PM Alexis Tsipras and his Finance Minister Yanis Varoufakis for Greece debt problem. It wasn’t their fault but I find both PM Alexis Tsipras and Finance Minister Yanis Varoufakis as coward and incompetent PM and Minister. Greek peoples have elected them for to sort out Greece problems but they are turning to Greek peoples to decide their future. The Bill-out referendum was rubbish and fart around.

Greek peoples need strong leader who can make decision on his own and take responsibility. It doesn’t matter left-wing or Right-wing but he or she must have strong view on future Greece. Greece will face default after default and its will not meet debt obligation to its creditors. Bankruptcy is inevitable for Greece in long turn.

Greece should declare Bankrupt and reorganize its economy. Currently Greek Government doesn’t have money and also it can not print out its own currency. It was the problem for Greek Government. Greece should exit from EU and print its own money Drachma. It’s not easy but its best solution for Greek peoples but it may not be good solution for European business community. The chain reaction from Greece Bankruptcy will only limited and short term damage outside EU but I’m sure some opportunists will take advantage over Greece Bankruptcy.

@Kobuta Chan.

You are confusing the Euro with the EU. Different things.

@Elizabeth Heath "They have said no"

And they did it right.

"go cap in hand of Putin and make a Faustian pact with the Devil"

They already tried to make a Faustian pact with the Devil, i.e. the EU. By comparison to classic two-faced European hypocrites, Putin did nothing bad for Greece.

How long until such a crisis hits a major country? The Congressional Budget Office estimates that America has until the early 2030s at the latest until such a thing happens to us.

"The Congressional Budget Office estimates that America has until the early 2030s at the latest until such a thing happens to us."

US debts are in dollars. How can the United States run out of its own money?

You do know what Hyperinflation is, right?

"You do know what Hyperinflation is, right?"

Yes, I do. I wonder if you do. Please give us a definition.

Anyway, do you know how the US can fail to meet its US-dollar obligations, when it is the one who issues and regulates the supply of those dollars?