Greece Risks Meltdown After Bailout Vote Bombshell

A high-risk gamble by the Greek government may threaten Greece‘s financial survival and the cohesion of the euro zone.

Greek Prime Minister George Papandreou announced unexpectedly on Monday that he would hold a public vote on Europe’s latest policy prescriptions for Greece, which if enacted would allow the country to avoid default and remain in the euro zone. Many European leaders and investors were aghast at the gamble, which some economists say increases the likelihood that Greece will default after all, abandoning the euro in the process.

Such an outcome would consequently put Spain and Italy in danger of default and Europe at risk of a bank run.



About Giorgio Bertini

Director at Learning Change Project - Research on society, culture, art, neuroscience, cognition, critical thinking, intelligence, creativity, autopoiesis, self-organization, rhizomes, complexity, systems, networks, leadership, sustainability, thinkers, futures ++
This entry was posted in Crisis, Debt, Default, Euro, Europe, Greece and tagged , , , , . Bookmark the permalink.

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