As the battle for Athens continues and the situation tumbles down the rabbit hole, Greece has now been placed in ‘Arrears’ with the IMF some are describing it as a default on their debt.
Threat of Greece defaulting on its debt has caused a run on the banks, in the last few days record high amounts have been withdrawn from deposits. The people of Greece have saw what happened to Cyprus when the worst came to worst with a tax of up to 10% on savings accounts and some citizens losing amounts over £85,000. The people off the coast of the Greek mainland have not only had life savings but others savings also dipped into by the banks. In short, day light robbery, the people of Greece face something similar but have learned from past actions from the banks.
The Prime Minister of Greece Alexis Tspiras explained that a NO in the upcoming referendum on whether to support accepting creditors conditions or not and that it would be a very important step for Greece getting a better deal – he stated “It does not mean a break-up with Europe”.
All negotiations have been put on hold until after the referendum is held. Jeroen Dijsselbloem has confirmed tonight, 01/07/2015. “There will be no further talks in the coming days, nor at the Euro group level, nor between the Greek authorities and the institutions on proposals or any financial arrangements. We will simply wait now for the outcome of the referendum on Sunday and take into account the outcome of the referendum.” he said.
What is happening in Greece today should set a benchmark for other people in European nations in the fight against ideological austerity which seeks to plough working class people into the ground, dismantling public services and sucking the life’s blood of a nation dry.
The people of the other European nations have a lot to learn from what the people in Greece have done. If the Greek government keeps to its pre-election words this will not only be a middle finger to the banks and IMF but to the political elite in Brussels and to the use of stringent austerity measures so many have had to put up with for the last 5 to 6 years right across Europe.