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EU Preview: Nasty Odor in Euro Zone

From wbponline.com

Greeks will vote in a referendum on whether to accept creditors’ proposals for receiving more financial aid. The plebiscite follows a week in which the country failed to pay its dues to the International Monetary Fund (IMF), the international bailout program expired, and banks in Greece were closed due to the lack of liquidity. Opinion polls ahead of the vote indicate the result is too close to call. According to the Greek government, the referendum is a vote on the creditors’ proposals, mainly featuring increases in taxes of about €8 billion over the next two years and further austerity measures including cuts in ... (full story)

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