Creditors may now be tempted to let Greece sweat it out a bit in a cashless economy, but to avoid a Grexit tragedy they should try less stick and more carrotGreece’s membership of the euro hangs by a gossamer thread after the victory for the no side in the country’s referendum. The cash machines are running out of money and the economy is in freefall.The fate of the home of democracy is not in its own hands. If it chooses to do so, the European Central Bank could force Athens to default on its debts and issue its own currency on Monday morning by withdrawing emergency support for the Greek banking system. Continue reading...
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