and the band was playin' rhythm and blues
You got down and did the gator, and half
an hour later, you were barfin' all over
Frau Merkel's shoes.
Okay, that's not how it was written, but it's what has happened:
Greece lurched into uncharted territory and an uncertain future in Europe's common currency Sunday after voters overwhelmingly rejected demands by international creditors for more austerity measures in exchange for a bailout of its bankrupt economy.What happens next? It could go a variety of ways, but I can promise you that a number of other debtor nations are watching closely.
Results showed about 61 percent voted "no," compared with 39 percent for "yes," with 100 percent of the vote counted. The referendum — Greece's first in more than four decades — came amid severe restrictions on financial transactions in the country, imposed last week to stem a bank run that accelerated after the vote was called.
2 comments:
I think the Greeks may soon be finding the verity of not one, but TWO old adages.
1. "Sooner or Later, you run out of other people's money," and
2. "You sometimes get what you asked for, good and hard."
Unless some magician comes up with a GOOD way out of this pickle, Greece is screwed or Europe is screwed.
The history of nations that ignore fiscal realities is not comforting bedtime reading, to put it mildly.
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