The Monitor Daily

Tuesday, January 26, 2021
Log in

As a participant in the Amazon Services LLC Associates Program, this site may earn from qualifying purchases. We may also earn commissions on purchases from other retail websites.

  • Home
  • Politics & National News
  • Business News
  • Tech & Science
  • Health & Lifestyle
  • About us
    • Contact US
    • Privacy Policy GDPR
    • Terms of Use
  • Latest News
    • Stormy Planet
    • US Surgeon Performs Face Transplant
    • 2017 MTV VMAs Nominations Are In And Voting Is Now Open
    • Bright House: Free McAfee AntiVirus and Adult Controls
    • Antarctic Yeti Crab Gets Formal Scientific Name
    • Spiders Take Over Australian Town
    • Interesting Facts About the Apollo 11 Mission
    • Social Smoking or The New Landmark of Elegance Among Young Women
    • Rare Weasel Returns To Washington State

Pages

  • About The Monitor Daily
  • Contact US
  • Our Team
  • Privacy Policy GDPR
  • Terms of Use

Recent Posts

  • Precisely what is Administration Buyback? Feb 12, 2020
  • Precisely what is Administration Buyback? Feb 12, 2020
  • Where by do Registered requests get kept Dec 1, 2019
  • Find a Star of the event on the Submit Purchase New bride List May 19, 2019
  • Locate Really enjoy On the internet Apr 30, 2019
  • Get Love On the net Apr 12, 2019
  • NYC Man Snaps Photo of the Victim After Sucker-Punching Him in Broad Daylight Jun 29, 2018

Greek Bailout Referendum Partial Results Show Clear “No” Result

By Leave a Comment

greek bailout referendumAfter more than half of the ballots cast at the Greek bailout referendum were numbered on Sunday night throughout the country, partial results see an overwhelming 61.3 percent of counted votes against the spending cuts and tax increases which were proposed by creditors as means of securing finance for the economically-troubled country in the event of lending a much-needed bailout, with only 38.7 percent being favorable to them.

This means that, barring a statistical miracle, the final result will be negative towards the proposed reforms, supporting the government’s position on the matter but possibly sending the country crashing out of the Eurozone.

Greek banks are nearly out of liquidity, being closed for the past weeks and allowing only a restricted number of cash withdrawals. The solution would be an emergency loan from the European Central Bank, but opinions on whether the institution will agree to it differ in light of the referendum’s result.

The Greek cabinet, headed by prime-minister Alexis Tsipras, considers that the vote allows Greece to negotiate loan terms from a better position than before. Tsipras was the one who called for the referendum more than week ago, after he rejected drastic tax increases and spending cuts which were proposed by the country’s financial partners in exchange for a crucial loan, which he deemed as “blackmail”.

Members of the government have also argued that the vote is not for Greece’s exit out of the Eurozone, but that it gives them the means to further negotiate a deal with creditors before the situation become unsalvageable.

Unfortunately for them, time is running out as Greek banks could all go bankrupt starting next week unless they manage to obtain some form of liquidity. This would make the country’s economy free fall towards a total crash and certainly result in it being the first country leaving the Eurozone, only 15 years after the euro began as a currency.

European officials have not commented on the negative outcome of the referendum. However, a string of meeting has been announced for the following days: German Chancellor Angela Merkel is due to meet French President Francois Hollande on Monday in Paris. The European Commission will also meet on Tuesday and is due present a report of the situation to the European Parliament. But the EU Council – the European Union’s co-legislative body, alongside the Parliament – has not scheduled any meeting of EU finance ministers until now.

Image Source: independent.ie

Share this:

  • Tweet
  • Share on Tumblr

Filed Under: Business News Tagged With: greek bailout referendum

Subscribe to Blog via Email

Enter your email address to subscribe to this blog and receive notifications of new posts by email.

Join 34 other subscribers

Operation Paperclip

Remembering Georg von Tiesenhausen, Last Member of Von Braun’s Rocket Team

By Leave a Comment

giant ground sloths on white background

It Seems that Giant Sloths Once Roamed Earth, and Humans Used to Hunt Them? (Study)

By Leave a Comment

sn 2001ig supernova explosion and images of its stars

A Star Escaped a Supernova Explosion, and NASA Snapped its Picture

By Leave a Comment

ngc 6420 galaxy resembling a giant butterfly

Hubble Spots Giant Butterfly Formed by a Black Hole and Stellar Winds (Study)

By Leave a Comment

infrared image of a dog

Space Technology Could Help Protect Earth’s Endangered Species

By Leave a Comment

snake slithering on a beige background

Kirigami Skin Is Helping a Soft Robot Slither Like a Snake (Study)

By Leave a Comment

woolly mammoth

Ice Age Tracks Reveal How Young Mammoths Cared for Adult Ones (Study)

By Leave a Comment

High Priestess tomb.

Archaeologists Discovered 4400-Years-Old High Priestess Tomb Near Cairo

By Leave a Comment

dwarf galaxies

Dwarf Galaxies Challenge the Entire Dark Matter Cosmology (Study)

By Leave a Comment

NASA Scientists and Food Experiments

NASA Scientists to Test if Astronauts Could Eat Their Own Poo

By Leave a Comment

KFC Smoky Wings Box Can Turn into Awesome Drone

By Leave a Comment

Tesla Model S

Tesla Model S Involved in Autopilot Malfunction Accident

By Leave a Comment

Duke Nukem.

John Cena Cold Feature in Duke Nukem Movie

By Leave a Comment

Battlefield One

Battlefield One Apocalypse DLC to Land in February

By Leave a Comment

Related Articles

  • Precisely what is Administration Buyback?

  • Precisely what is Administration Buyback?

  • Where by do Registered requests get kept

  • Find a Star of the event on the Submit Purchase New bride List

  • Locate Really enjoy On the internet

  • Get Love On the net

  • Frequent Questions About a Singapore Limited Liability Company

  • Well-known Questions About a Singapore Llc

  • Widespread Questions In terms of a Singapore Limited Liability Company

  • Popular Questions In regards to Singapore Llc

Categories

  • Business News
  • Entertainment
  • Featured
  • Health & Lifestyle
  • Nature
  • Politics & National
  • Sports
  • Tech & Science
  • US
  • World

Copyright © 2021 TheMonitorDaily.com

About · Privacy Policy · Terms of Use · Sitemap · Contact

This website uses cookies to ensure you get the best experience on our website. Learn more.