The Greek Default?
While everyone is talking about Greece’s IMF default, the real story is illustrated below. Over 225 billion Euros is owed to other European nations. The scheduled referendum leaves the certainty of a Greek bailout and the illusion that the Greeks are deciding their own destiny. Poor fools.
This will be another rigged game with a “yes” vote to stay within the European Union prevailing. We are not ready for the financial Armageddon just yet. The readiness of the military establishment and the required security measures to counter-act mass riots are not fully in place. A “no” would ultimately place blame on bureaucrats and Central bankers, and that is not the desired end to this financial dilemma.