Wednesday, 1 July 2015

Greek climax

They have defaulted.

What does that mean?

They have passed an agreed time and not paid the agreed amount. Nothing too strange about that. However, it has taken a long time to get to this point.

There is no fighting on the streets, but then I did not predict that would happen within minutes of the default, merely that without pay for civil servants, [Police & Military] the security of Greek society would weaken considerably.

Funnily enough there is still another date [two in fact] to watch before anything really drastic happens. 1) July 5th Sunday's referendum and then 2) July 20th when Greece must repay a bond to the European Central Bank.

This saga is far from over...

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