In today’s referendum, the Greek people voted overwhelmingly to reject the bailout offer that was presented to them by the intransigent “troika” of the IMF, EC, and ECB. With more than half the votes counted nationwide, the NO votes led the YES votes by about 60% to 40%. This result also represents a vote of confidence for the Syriza coalition government and for Prime Minister Alexis Tsipras who, amidst scathing attacks by troika leaders, had urged Greeks to reject the offer.
German Finance Minister Wolfgang Schäuble is now calling for Greece to be expelled from the eurozone. That is not likely to happen any time soon, but if it did, Greece would be the better for it. So long as the Greek government continues to balance its budget it might well be able to issue a domestic currency without inflation. It might also encourage private measures to provide domestic liquidity. Private currencies spent into circulation by trusted issuers on the basis of goods and services that are in regular demand, and mutual credit clearing associations of businesses have historically been shown to be effective in providing exchange media and alleviating economic hardship, especially when official currencies are in short supply.
Sunday, July 05, 2015. Somewhere in Greece.
As we await the outcome of the referendum vote, the atmosphere here is one of calm expectancy. In my view, the Greek crisis is shaping up to be a major battle with the forces of banking and corporate power that are intent on imposing a neo-feudal New World Order, arrayed against those who are hoping to preserve some hope of social justice, economic equity, self-determination, and democratic government. It is a Goliath vs. David situation.
With mostly propaganda coming from the mainstream media, people’s beliefs are shaped to conform to the picture that serves the Goliath agenda. Be not deceived. This article referred to below is very important and offers a deeper insight into the Greek situation.-t.h.g.
Behind the Greek Crisis
July 2, 2015
Exclusive: The usual narrative of the Greek economic tragedy is that the country is paying for its past profligacy, but there is deeper back story of political repression fueled by major powers intervening in Greece and contributing to a dysfunctional political system, recalls ex-U.S. diplomat William R. Polk.
By William R. Polk
Read it here: https://consortiumnews.com/2015/07/02/behind-the-greek-crisis/
And, here is another pertinent article, this enough to make one cry: How Europe Played Greece: “We would rather Deal with Corrupt but Obedient Leaders, than Honest ones with Ideas of Sovereignty” By Alex Andreou, Global Research, July 04, 2015