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Greece voting “No” to Europe is not good for the EU

Greece has been the founder of the world philosophy in 4th BC and the killer of regionalism in the 21st Century. European dream is in deep crisis. The vote of 5th July 2015 by the Greeks whether to remain in the Eurozone or quit is not good news as one may think. The Greek banks lack money and the situation is not going to be better after voting No to EU. Will Greece keep on borrowing from the EU after this challenging event? What the Greeks did not want was austerity measures and regulations from the EU members? Will the EU consider lending more money to Greece without conditions? Will the Euro collapse? How will the lenders, namely, Germany and France, take it? Will Greece manage to repay its debt in terms of Billions of Euros? Will the lenders cancel some part of the debt to help Greece recover? The European Economy is threatened and expecting stronger economy is in limbo. Remember that at some point the former Sovietic Union had to sell Alaska to the USA in order to recover its economy. What will Greece sell to its creditors in order to be stable? Philosophers of the School of Athens can answer this.
Technically, the decision made by Greece may yield into many changes in the Euro Plan and its design for financial integration and strong currency. Greece will be badly affected since its decision to pull-out may worsen its economic growth. Greece will still need EU and even seek more funding. Greek banks are currently frozen. Such collapse may definitely affect the lenders badly. The bailout money will be inaccessible making the EU Central bank enter into crisis to save Euro. Solving this crisis is gonna be very painful and difficult.
The sensitive question in this weblog is whether other European States whose economy has been dwindling collapse or stay in the integration? Will Spain, Portugal and Italy survive? Will EU sustain a weak common currency? How will be the inflation in the EU zone? Will the decision of Greece to say NO to Europe be a disaster for the whole Marshall plan? Already the Eurocrats are again on the drawing board as Greece is worried about what nexta
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About Peter Onyango

Dr. Peter Onyango O. is one of our main contributors. He is a senior law lecturer, a writer, a consultant, peace ambassador, and a researcher. He assists so many professionals, legal minds, and debaters with his skills and scholarly wealth! He supports children and village community as a way of giving back to community. He edits, proof reads, and publishes various articles for our page!

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