Greece has told the EU to piss off. Greece will not be dictated to by European bankers, the EU, nor the inglorious IMF.
Good on the Greeks.
Unfortunately for the Greeks, the days of ‘austerity’ are far from over. However, the Greeks get the opportunity to figure out their mess without EU interference. I think it would be fair to conclude that Greece gets to “dictate” terms of repayment on Greek debt. Or they get to walk away and done is done.
Of course Fräu Merkel and François Hollande are spitting rubber nickels at the prospect of Greece’s going it alone. Merkel and Hollande will be pressing for Greece to be “expelled” from the EU. I think Greece has already answered the EU question.
The upcoming week will be ‘alive’ with hysterical economic psycho-drama and various kabuki market scenarios that spell DOOM!
Right on and about damn time.
Of course in the US of A, anytime “debt” becomes an issue the Federal Reserve simply prints more money and fait accompli. Damn, is that about slick or what.
On an unrelated note, Greece’s decision to fly the finger at the EU will fuel the fires of separation from the EU in the UK.
This is going to be fun to watch.
We are living in a postmodern brave new world, Keep your arms and legs inside the ride at all times remembering, you bought the ticket…