The worse that may happen is Greece’s debt crisis negotiations will start up again. The No vote by the Greek voters said they would no longer be held in bondage by the International Banks. They had rejected the most recent bailout proposal by the Banks.
The Greek government and people had seen the truth. It has all been a scam to see corporations and banks in total control of an obedient, powerless, and indebted world.
When people who should never have been given a mortgage stopped paying, foreclosure became widespread. Those mortgage-backed securities plummeted in worth. Banks and investors holding them lost big time. Big Banks rushed in a bought up the losing banks and investment houses (remember Washington Mutual Bank).
This buy up supposedly overextended the Big Banks who then went to the government to bail them out. Give us a loan they begged. We are too big to fail. Not realizing this was all a scam, the Greek government gave the Big Banks $30 billion.
Now this could have conceivable worked, except it was all a scam to get complete control of the world in what is called “The New World Order”. To sabotage the bond bail out of the government, the very banks bailed out by the government downgraded the worth of the bonds! Worth less the government bonds were not worth buying. CRASH!
This was in 2009. By 2011 Greece took out a bailout loan to save itself from the very same banks at a massive 110 billion Euros. By 2011 a second bailout loan was arranged (but only after the Greek Prime Minister was replaced by a banker without an election).
Now Greece had to pay off these loans by selling itself. It was called “privatization” when the government sold off its water, electrical, postal, telecommunication systems along with airport and port services, the national banks and Greek media. It was called the “austerity” program when public workers were laid off and cuts were made to public services, minimum wage, pension plans (like US Social Security) and raising taxes on the 99%.
If they end up at the negotiating table again they will now have financial restructuring on the agenda. Other nations in the same dire circumstance may also awaken to the scam and say no more, such as Spain, Italy, Portugal, Ireland and other countries going through austerity and maybe some who will decide they do not have to be pushed to austerity to vote NO.
One country has already been down the road Greece is looking at. That country is Iceland.
Icelanders are fast on their way back to becoming among the richest people in the world, just five years after experiencing one of the most dramatic financial meltdowns in history. -http://www.theguardian.com/world/2013/oct/06/iceland-financial-recovery-banking-collapse
Article entitled "America Is Bankrupt—And Destined to Fail!" dated 7/7/2015 (today)
- Nancy L. Hopkins