Greek Dilemma

I am following the news the last days, to try and form an opinion about what is going to happen with Greece.

I was expecting a deal to happen last week, but to my surprise everything went belly up when the prime minister decided to throw a referendum to the Greek people, and then the European Central Bank decided to stop liquidity to the Greek banks, causing the Greek government to shut down the banks and enforce capital control to prevent a bank run and a financial collapse.

Now, I find this referendum out of order for the simple reason that both choices (at least in my opinion) are bad.

Continue reading Greek Dilemma