Economists warned that if Greece rejects the debt deal hammered out only last week, which would entail years of austerity, the entire future of the single currency is in peril.
They predicted that Italy, Spain and Portugal are likely to be plunged into a profound economic crisis because of their failure to get to grips with their towering debts.
The referendum would be an effective vote on whether or not Greece should remain in the straitjacket of the single currency and accept years of spending cuts and tax rises, or simply refuse to pay what it owes and crash out of the euro.
So what now
I don't think that there is a politician , economist or reporter who can answer that with any certainty.
Anything can happen .Greece could default and be thrown out of the erozone. Germany could withdraw from the euro !
Thank god that Gordon Brown said NO to Tony Blair , who wanted to join the euro about ten years ago ! The only thing that Brown got right
Maybe the Euro luvvies will now admit that the Euro and the EU was a gigantic mistake . Spawned by politicians NOT economists !
Take off your blinkers and see the real world !
The greeks have shown that countries do not want to be governed from Berlin . The european banks could be forced into dire straights .
"Well, here's another nice mess you've gotten me into! Ollie
