Sunday, 5 July 2015

Greece Says No

The evil that is the British Government are lining up further austerity cuts in the Wednesday budget although the justification for their pay rise was that the economy is now picking up so the question is why such scathing austerity if we are on the up?
One country that has said enough austerity is Greece as they have said a big fat No to the EU and their demands for further austerity in return for a big bundle of Euro's.
The count puts 61% of Greeks have told Angela Merkel to go do one in a referendum that many talking heads are now predicting will be followed by Greece leaving the Eurozone and the re-introduction of the Greek Drachma.
It's a resounding victory for Greek Prime Minister Alexis Tsipras who was voted into office on a promise of no more austerity and he had gambled his job on the outcome, stating he would he would step down if the Greek people voted in favour of budget cuts and tax increases in return for more financial aid.   
The deputy Prime Minister has been on television celebrating but with the banks closed and cash machines limiting customers to to €60 per day, without another injection of emergency funds from the European Central Bank, the celebrations to not be blackmailed by the money lenders to slash pensions and sell off part so the country in a privatisation blitz may mean things will be tough for a while.
The Eurozone's warnings have been strong but the Greek government has put their demands to a democratic test and they were rejected so seems a stalemate all around and they will have to get out the negotiating table once again.

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