EU: "Greek Eurozone Membership Is At Stake" And Greece Must Agree On Tough Measures Or Return To Drachma
The loudest warning to date. From Reuters:
- EU Commissioner Damanaki says Greece's Eurozone membership is at risk
- EU Commissioner Damanaki says Greece must agree on tough measures or return to Drachma, according to state news agency
Incidentally, Greece would like nothing more than to return to the Drachma. And here are the next steps...
- More austerity promises,
- No actual enactment,
- Many more violent demonstrations
- Much more EU disappointment,
- More cash demands by Athens,
- EU floats proposal to collateralize DIP loan with Greek gold
- Greece agrees
- Greece files for bankruptcy as IMF/EU/ECB cuts off funding
- Greek gold now held by "developed world"
- The End
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