By Risë Birnbaum
Haven’t seen so many flip flops since South Beach this winter. What’s up with Greece?
Here’s the Cliff’s Notes version – Yes, Greece defaulted on a big loan payment because the country and its creditors aren’t on the same page. This is right up there with Antigone as a Greek tragedy. The scoop is Greece wants more money, but didn’t want the higher taxes and lower pensions to help cover the loans. So ATMs around the country are now only dispensing 60 euros to any one bank customer. Ouch.
And then Prime Minister Alexis Tsipras made a U-turn and decided he could agree with most of the bailout terms if a few changes were made. But, wait, it’s not over yet. Now, it seems as if Tsipras is again urging Greeks to vote AGAINST the bailout. And if there is a “no” vote, Greece will be shipped out of the eurozone.
What to do? Send John Stamos over as the new Greek “ambassador” to explain what’s going on? Open up some new Greek yogurt plants around the country? Send more Royal Caribbean cruise ships to Athens filled with tourists and pray no one gets a stomach bug?
In the meantime Puerto Rico said si, it’s also cash-strapped. All this 3-card monty has the global markets stuttering.
Greek is in a pickle cause its borrowing power is now zilch and even if the country votes yes, it’ll take weeks to work out terms and who knows what happens to the government during that time?
Meantime bankers’ hours in Greece are as short as they’ve ever been with all banks closed, and the economy wasting away.
This has become a euro-disaster with only one short-term solution. It’s a four letter word that’s pretty potent. Nopel, not euro. OUZO.