HA! So, is Drachma coming back?
Whatever the aftermath may be, the fact is Greece is going to struggle. The YES and NO has been terrorising the people as well as the government for the past few days.
For those thinking what this Greek referendum is, I will enlighten you on the subject in brief.
Greece has been under depression for a long period of time and it had to survive on the International Monetary Fund(IMF) as well as the European Central Bank(ECB). The emergency funds provided by these organisations were meant to be paid back and Eurogroup leaders had plans to cut back salaries, pensions and other benefits for the common people so that Greece could get back on its feet. Well the due date was last Tuesday and visibly Greece has been unable to pay their debts.
Now this referendum proposed will decide the financial future of Greece as well as its position in the European Union. The referendum was called for by Tsipras, the prime minister so that the people could decide exactly what they want. A moment of democracy winning over fear of existence of Greece itself with the sure possibility of bankruptcy. By voting a YES, people could choose to continue with the funds from the European Union provided they are willing to let their salaries and pensions to be cut down by an unfair margin. By voting a NO, the people could choose not to pay back the debts to the ECB and IMF which will obviously kick them out of the European Union as well as will have to replace EURO with DRACHMA.
That is a serious decision for the people of Greece and now they have voted a NO.
Even though the people have chosen to 'not pay back the debts' which will question their existence within the European Union, they know that they have chosen the difficult path and it will really take some time for Greece to get stable in monetary terms. If the people think and believe in a slow but better and stable future, why not let it be the way the people want it? The celebrations going on in Greece by the NO voters is worth if they can prove that 'Slow and Steady wins the race' !!! Hope for the best.
Whatever the aftermath may be, the fact is Greece is going to struggle. The YES and NO has been terrorising the people as well as the government for the past few days.
For those thinking what this Greek referendum is, I will enlighten you on the subject in brief.
Greece has been under depression for a long period of time and it had to survive on the International Monetary Fund(IMF) as well as the European Central Bank(ECB). The emergency funds provided by these organisations were meant to be paid back and Eurogroup leaders had plans to cut back salaries, pensions and other benefits for the common people so that Greece could get back on its feet. Well the due date was last Tuesday and visibly Greece has been unable to pay their debts.
Now this referendum proposed will decide the financial future of Greece as well as its position in the European Union. The referendum was called for by Tsipras, the prime minister so that the people could decide exactly what they want. A moment of democracy winning over fear of existence of Greece itself with the sure possibility of bankruptcy. By voting a YES, people could choose to continue with the funds from the European Union provided they are willing to let their salaries and pensions to be cut down by an unfair margin. By voting a NO, the people could choose not to pay back the debts to the ECB and IMF which will obviously kick them out of the European Union as well as will have to replace EURO with DRACHMA.
That is a serious decision for the people of Greece and now they have voted a NO.
Even though the people have chosen to 'not pay back the debts' which will question their existence within the European Union, they know that they have chosen the difficult path and it will really take some time for Greece to get stable in monetary terms. If the people think and believe in a slow but better and stable future, why not let it be the way the people want it? The celebrations going on in Greece by the NO voters is worth if they can prove that 'Slow and Steady wins the race' !!! Hope for the best.
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