Article Image

IPFS News Link • Economy - International

Here are 7 facts and figures that show just how bad the Greek crisis is right now

• http://www.globalpost.com, Allison Jackson

Thousands flooded Athens' Syntagma Square to celebrate the results of the weekend's referendum. They were waving the national flag, hugging strangers, taking selfies, and lighting flares like Greece had just won the World Cup final. 

The roughly 60 percent to 40 percent result of the referendum was essentially Greece flipping the bird at more financial relief from its European creditors, which might seem kind of odd because Greece needs money right now. Like, a lot of money.

But after five years of painful austerity policies reluctantly implemented in exchange for rescue funds from European governments, the European Central Bank and the International Monetary Fund, most Greeks have made it clear they have had enough.

Whether the "no" voters were voting against the tough terms proposed by creditors for an extension of bailout funds — including even deeper pension cuts and more tax increases — or against the euro zone project itself isn't clear.


Zano