Greece: Twist in the tale - Contents of life

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Monday, July 6, 2015

Greece: Twist in the tale

The Greece story is writing new pages in history. This is a story which started a lot earlier by started creating interest since say 2011. Lot of things started happening back then. Check these pages of the story.
At some point of the time, the story apparently was coming to an end, probably a happy ending. But all was not well. Greece, on one hand was running short of money, but, on the other hand, do not wanted to reduce the level of their standards of living.  This was the point of conflict of interest.
The European Union (EU) wanted to put restrictions which will make Greece thrifty. But, Greece do not want to compromise with their standard of living. Greece, major part of expenditure is associated with the Pension schemes. EU wanted to bring this expenditure under control. A lot has been happening on this front.
Finally, yesterday, the people of Greece voted for decision whether to accept European Union's conditions. Based on this it will be decided whether EU will decide whether to continue helping Greece or to let them leave EU.
 
Result of the voting is out now and people of Greece have decided to stand against the conditions being imposed by EU. They are apparently ready to leave EU and accept the condition bankruptcy.
There is another angle to this decision taken by people of Greece. With this decision, Greece probably will be in a condition where they will negotiate with EU to relax the conditions put on them. EU as such do not want any of the country to leave. Because if Greece leaves, there are other countries including Spain, Ireland, Portugal waiting in line and then EU will kind of become meaningless.
 
It will interesting to see now, how this story unfolds in future. The next few pages of the story are going to be very interesting and probably effecting every one of us in some or the other way.
 
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