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3 potential fallbacks now that Greece said 'no'

July 6th, 2015 by ,    photos by

A quick recap of the hardships on the horizon following Greece's 'no' vote in Sunday's referendum


Far from unamimously, Greece ultimately voted 'no' in Sunday's referendum, which means its government is left intact and European leaders are left pondering: "What next?"

According to Bloomberg View, that answer may come easier than any long-term solutions for the nation might.

Here are a few of the top ten consequences a 'no' vote could impose on Greece over the next few days. Let's take a look...

3 economic fallbacks to watch for - Greek style

1. Long live the cash

Without urgent financial aid - something the European Central Bank could offer in a rose-coloured world, (but only time will tell if Greece will get the help it needs) - the government will have to continue to ration its cash and keep its banks shut down. There is no telling how long its reserves will last.

2. Honey, I sold the stocks

International markets can expect to see a sell-off of global equities and increased price pressures on Greek-marked bonds - which may be good news for Germany and the U.S. It's likely both countries will see a spike in perceived quality on their bonds.

3. IOU is the new black

Expect IOUs to see a rise in numbers as the government aims to maintain a sense of an operating economy. IOUs may take over as a currency in the interim, quoted domestically at a discount. Great - more debts.

Want to read more?

Bloomberg View: 10 Consequences of Greece's 'No'


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