Greek Finance Minister Yanis Varoufakis has described the actions of Athens’ creditors as “terrorism,” but said agreement with them was inevitable in an interview published hours before a landmark referendum to accept or reject the bailout terms.
Today we still use an industrial age monetary construct while we have technologies to do things differently. Greece could create a precedent with a different way of addressing economic problems, says one of the architects of the euro, Bernard Lietaer.
The eurozone project is a complete fiasco so Greece should be allowed to go back to the drachma, to devalue and to rebuild itself, columnist and podcaster Jon Gaunt told RT. This might be the beginning of the end of the whole EU he adds.
Though there is a lot of noise concerning the Greek crisis and the Greek economy is likely going to collapse this week, three months from now no one will remember Greece going bankrupt, financial commentator Jim Rogers told RT.
The Greek government has announced that banks will remain closed on Monday and restrictions on withdrawals will be introduced following the ECB refusal to provide additional Emergency Liquidity Assistance to Greece’s banking system.
Austrians have launched a petition to quit the EU, arguing that the nation will be better off economically if it leaves the union. To force the national parliament to consider the initiative activists need to have gathered 100,000 signatures by July 1.