A Bail Out In Greece Could Save The Country From Financial Ruin


“Democracy has defeated fear. The determination of the people will beat the propaganda of fear,?

These were the words?spoken by?Greece prime minister Alexis Tsipras.

Courtesy of CNN

Tsipras is referring a referendum currently on the table that may revive the Greek economy. A ‘yes’ vote would mean that Greece stays in the European Union (EU)?and a ‘no’?would cause?Greece?to exit the EU,?and establish or return to?their own monetary policy.

Tsipras is a backer of the ‘no’ vote which would remove Greece from the use of the euro and most likely from the EU, a move that could prove extremely beneficial for Greece’s weak economy. At that point of? Greece?may?determine the?feasibility of a bail out?which?could be similar to the one used in the United States.

Tsipras is pushing the vote?because the Euro Zone, and especially Greece,?has?suffered catastrophic economic losses. Because 19 of the 28 countries in the EU use the Euro, this created one monetary?policy for 19 countries. Not the best decision if you ask me.

The referendum sought by Tsipras?comes in wake of the closure of Greece’s banks, rationed cash, failure to repay the IMF, and billions in lost Euros.

Not everyone is convinced that those losses warrant Greece to remove themselves from the EU. The opposition?is one of their own, Antonis Samaras, a Greek politician. Samaras?called for Greece to remain a member of the EU because,

?”We vote yes to Greece, we vote yes to Europe”

Samaras looks to trap the people so that Greece may once again be ruled under the same?monetary policy of?18 other countries.

Samaras says this even though? the Greek economy has shrunk by a quarter.

While the?referendum will only be the second one in 40 years, it may life saving for Greece.

If the no vote?holds, Greece can?remove itself from the EU,?escape the toxic environment which consumed the country. Greece may also be able to create their own currency and monetary policy.

However, it is hard telling?what may happen as?the Greeks will vote soon.

But the words of their president Prokopis Pavlopoulos may serve as a guide for the hurt country.

“Irrespective of the result, we have to traverse what will be a difficult tomorrow with unity. That is what our forefathers did. That is what we are going to do. We will go forward, all together.?

 

 

Tanner Bisbee hails from the great State of Maine. He's a full time college student and serves on the football staff at school. His most notable work to date is his book Modern Day Sports Blog. To read more check out my blog http://moderndaysportsandpolitics.blogspot.com/