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What will be the outcome of debt crisis?


According to John O’Connell, CEO of investment firm Davis Rea, the people of Greece are concerned that the outcome of the debt crisis could be the occurrence of civil war and the imposition of martial law.

He also added that older Greek citizens were expected to vote in favor of the EU bailout package on July 5th , whereas younger citizens had nothing to lose if they voted against it.

The younger citizens form their opinion on their current status. They are unemployed, it is already hard, and therefore they have nothing to lose if Greece moves back to the Drachma. They think that Germany and other European countries are pressuring them.

In addition to all this, O’Connell concluded that number of tourist will probably fall because of the currency. Some other fears involve military. People think that military might become involved. And that could lead to potential civil war.

According to Greek Finance Minister Yanis Varoufakis, Greece will fail to repay its debt to the IMF. People of Greece are withdrawing anything they can from their accounts and clearing supermarket shelves. Due to capital controls, they can only withdraw 60 euros a day.

Based on other reports, it has been stated that only the US will benefit from the Greek civil war. And if such social unrest happens, tourist would immediately abandon the country and would never want to come back.


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