#developing economist

Due to the recent referendum in Greece, Tspiras' position in domestic politics has strengthened. Unfortunately, Grecee's economy is still quite fucked up.

Here's the situation: 1. Banks are closed to keep the capital from flowing. 1. Consumption rate obviously took a big hit because of the capital control.   2. Greeks have severe limitations on withdrawing money from ATMs. 3. ATMs are running out of money. Fast. 4. Greek government banned most of foreign bank transfers. 5. Greek credit is total shit. Hence, it is not accepted outside of Greece. 6. Food/Medicine (general goods) are running low. 7. Greek economic growth? Non-existent. 8. People are holding on to cash while general goods are becoming scarce. 1. As we all know this shit is the ultimate shit for the economy.

Sounds pretty bad, eh?

Well... the bad news doesn't stop here. Economists (real ones. not fake ones like me) are saying that Greek economy is going to get worse before it recovers. They give two main reasons:

First, the uncertainty factor is going to fuck them hard. For example, the uncertainty is damaging the overall demand for goods; tourists are canceling, and future tourist booking has fallen drastically as well.

Second, Greece's fucked up and unstable politics is about to damage their economy even more.