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Greece said no to creditors. Will the euro end tomorrow?

July 6, 2015 Evgeny Yasin

Citizens of Greece democratically decided not to pay debts, refusing to fulfill the program of savings proposed by international creditors. Most of those who voted in a referendum - 61.31% - said no. The opposite point of view was expressed by 38.69%. In total, 6.4 million people voted (about 62 percent of the Greeks who had the right to vote).

Commenting on the preliminary results of the plebiscite, the official representative of the government Gabriel Sakellaridis said that Greece wants to immediately resume negotiations with international creditors in order to conclude an agreement on his debt. Finance Minister Janis Varufakis first stated that "an agreement could be concluded in 24 hours." Then he asked for resignation, so as not to impede negotiating.

At the same time, the EU states are still in no hurry to resume the negotiation process. Instead, the Chancellor of Germany Angela Merkel and French President Francois Hollande during a telephone conversation advocated on July 7 an emergency summit of the heads of state and governments of the Eurozone countries.

About the origins of the problem of the "Daily Journal" was told by the supervisor of the Higher School of Higher Professional Education Evgeny I Sin:

The Greek referendum reflects the situation that sooner or later had to come, because when creating the European Union and the Eurozone, some beautiful -sided mistakes were made. Certain financial obligations were assigned to richer countries, since it was clear that for some time poor states could not do without their subsidies. But this design turned out to be the western: instead of solving fundamental problems, poor states also wanted more subsidies. The whole system was arranged so that these subsidies continued to act.

In Greece, this situation went most far, the country could not fulfill the conditions that would create a balance between members of the European Union. The time has come when developing countries from other parts of the world, such as China, India or Brazil, began to supply products to European markets that were cheaper and sometimes better than Greek goods. In addition, a significant part of the Greeks is busy in the sectors located outside Greece, and thus pays taxes to the budgets of other countries.

The referendum actually took place on the question of what choice to make for the future, question, to obey or not the requirements of creditors - this is only a formal side of the problem. In fact, the question sounded like this: can we change our economy, work more and pay more taxes or not? Most of the Greeks answered this question negatively: we are against fulfilling debt obligations, we will better be independent from the European Union.

Is it right or not is a question that I definitely cannot answer. But this suggests that a very sensitive threshold has been overcome: the initial hopes of people who stood at the origins of the European Union did not materialize. Beautiful Social Democrats thought that all people are the same and if we create equal market conditions to all states, then the backward would catch up with more successful ones. We see that this did not work out.

Photo Zuma \ TASS