The Economist opines the Greek economy will be a mess regardless of what is eventually decided. To be sure, the Greeks had their moment of defiance, voting "no" by almost 2 to 1.
But two days after the close of the polls the fact remains that Greece's real economy is in a mess.
Firms have also been hit particularly hard.
Unsurprisingly, as a result, Greek economic growth—which began to falter shortly after Syriza came to power in January—has collapsed. Consumption has slumped by 70% since capital controls were imposed.
And they conclude:
Whatever Greece's political fate, its economy is bound to get much worse before it gets better.
Presuming Greece leaves the euro zone, wealth-destroying inflation is the villain lurking around the corner. Be glad you don't live in Greece.
