Boxorino wrote:can someone explain what's going on in greece
Allow me as a Greek explain THOROUGHLY. REAL THOROUGHLY.
So Greece has been unable to stand up to the standards of the eurozone, much like other southern-ish countries (Italy or Spain for instance). That forced Greece to take loans. Now what the people never learned (both the people of Greece and the people of countries loaning TO Greece) was that those loans were not spent for the Greek people, rather to the banks so they could repay their already pre-existant debts to private corporations of various countries.
What does this mean? A few people got VERY very rich while tons of other people are struggling to pay for the banks' deficit.
Now the problem here is, Greece itself should never have been in the eurozone. That's mainly because it cant handle the level of finance that for example, Germany has with their level of industrial markets. Thus we are forced to borrow more, again to repay the banks. And that's just a vicious cycle going on for 5 years now.
The problem is, we will never be able to pay the ever increasing loans and to be able to at least pay the bank fees, we are forced to take worse and worse measures, lowering wages, lowering g pensions etc..
And thus comes the new leftist govt. That practically denounces this politic of loans to repay banks etc as it believes its going to doom the EU (Which it practically already has), therefore they declined to sign another deal and put forth a referendum for the people to vote whether they want to agree to EU terms or not.
Many believe if its a no we go out of the EU and Euro
I personally don't mind that, the euro is mostly a burden on a country that can't manage itself like a heavy industry like Germany for instance.