Reply #61: They will face a much worse immediate situation

[Yo_Mama]

Because the Greek government is still running a big primary deficit. The Greeks can repudiate their debt, but then they won't get any additional money and they will still have to make all the cuts.

I think the Greeks should vote no and take the hit for two years, after which the economy would have to start growing again. But the no vote would produce a terrible depression, and the average Greek worker would get hit horribly.

Their unemployment could go as high as 25-30%. Their healthcare system is already running out of drugs, because it doesn't have the money to pay for them. The result would be awful.