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Greece on the brink of euro exit after bailout rejection

Greeks have voted overwhelmingly to reject the terms of an international bailout, leaving Greece on the brink of a eurozone exit.

TAGS: Bankruptcy Economy Financial Crisis Prime Minister Alexis Tsipras Greek crisis banks foreign creditors Finance Minister Yanis Varoufakis

Greece nowadays is an amazing example of how people can think and do as one in a bid to overcome the most infamous financial crisis. What could have been a step closer to country’s absolute bankruptcy, eventually ended as a mass win for the Greek people and Prime Minister Alexis Tsipras. In the time of harsh economy and, subsequently, harsh living conditions, the people once again united and said NO to the foreign creditors who were offering a bailout. Tsipras came out as a savior of the Greek people and, at the moment, is the only person the Greeks believe in, according to international news media.

Prime Minister decided it was best for the country to avoid any further financial collapse by rejecting such a proposal. However, finding a new way out of the crisis is not going to be easy. Now Tsipras is to come up with a new plan without Finance Minister Yanis Varoufakis who stated that the referendum was a ‘holy moment’ in Greek history. However, after the people voted NO to the creditors, Varoufakis publicly resigned. As he said, he stepped down only to allow Tsipras to reach another financial agreement with European creditors. According to international news media, this move was expected and did not come as a surprise.

 

Greek crisis is still one of the talking points in the world, where people all over the world are trying to help and develop various social projects in a bid to help the Greek people overcome their overwhelming situation and lessen the country’s debt.