What’s coming after the neverendum

Screen Shot 2016-05-24 at 15.16.44Well, we all know that the neverendum is coming on 23rd June, but what about what’s coming after that in July?

Take a brief look at the above. It’s the due dates for the Greeks to repay their loans. Actually, some of their loans. Come July they’re going to be looking for the next stage of their EU bailout money. €86 billion to be precise.

Where’s it coming from? Well , the ECB and IMF want to restructure Greece’s loans. For ‘restructure’ read ‘write off’ and. of course, Britain has ‘opted out’ of funding future bailouts for the Greeks. Unfortunately, although the ECB won’t be getting money from us, the IMF will be so the opt out – rather like Mr Cameron’s renegotiation – isn’t worth the paper it’s written on.

And on top of that, the Italian banks are in trouble so they’ll be here with their hands out next. And we’re not opted out of any deal on that one.

So while you’re thinking about the economic impact of leaving the EU, take a moment to pause and think about this little lot and ask yourself about the economic impact of staying in…

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