Wednesday, July 15, 2015

“Yes” Vote on Bailout bill, Greeks Riot

Violent Protests in Greece Before Vote - Video - NYTimes.com
Molotov bomb attacks on the streets as the Greek Parliament Votes "Yes" on Bailout
It wasn’t that difficult to predict that a Grexit was more of a fear strategy so as to make some good investments and not so much a real possibility given what was at stake. What was a bit harder to guess was how exactly the bailout would work and how much compromise would be made by either side.
Turns out that the greatest losers here are the Greeks. They basically got nothing and the austerity they will have to endure means years of misery ahead of them. You know you’re doomed when even the IMF believes that the demands you’ve been forced to accept are too hard.
Predictably, the Greeks are mad and showing their discontent. Expect more to come, more protest, more demonstrations. Yes, more violence and more unrest in general, very much the same thing we saw in Argentina after the default. The similarities keep popping up, most of all the way in which the economic disaster affects society and how people cope with it.
Fernando “FerFAL” Aguirre is the author of “The Modern Survival Manual: Surviving the Economic Collapse” and “Bugging Out and Relocating: When Staying is not an Option”.

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