Tspiras Vows to Cancel Bailout-Bloomberg

Alexis Tspiras, head of Greece’s biggest anti-bailout party Syriza, continues to beat the drum of cancelling the agreed upon terms of their bailout.  This is an amazingly dangerous and manipulative campaign that distorts facts, and preys on those who are consumed by the deep recession and the accompanying unemployment.  If Greece were to abandon their bailout terms it would likely mean that their tenure in the EU would be over.  The return of the drachma and the accompanying money printing would likely lead to egregious inflation. The majority of deposits would leave the banks creating a financial crisis of epic proportions.  The structural problems of the Greek economy would only be exasperated by this new government, and you could see a long lasting depression in Greece that would truly be tragic.

http://www.bloomberg.com/news/2012-06-01/tsipras-vows-to-cancel-bailout-as-make-or-break-greek-vote-looms.html