With Greeks preparing to decide on whether to accept a bailout from the EU and the IMF in a crucial referendum on Sunday, economist Martin Armstrong sensationally claims that the troika is planning to rig the vote.
Armstrong quotes Greek Finance Minister Yanis Varoufakis, who accused the EU of forcing Greece to close banks “for the sole purpose of blackmailing” and “Getting a ‘Yes’ vote on a non-sustainable solution that would be bad for Europe.”
Armstrong, who is known for successfully predicting the 1987 Black Monday crash as well as the 1998 Russian financial collapse, asserts that EU leaders are desperate to prevent Greece from leaving the Euro because it could grease the skids for France taking the same course. Such an eventuality would also bolster the chances of Britain leaving the EU altogether and could push Greece into the arms of Russia.
The situation is so dire, that power brokers may even rig the referendum to get the outcome they want, claims Armstrong.
“They refuse to solve the Euro Crisis because they only see their own self-interest and assume they can force their will upon all the people. They are doing everything in their power now to rig the Greek Referendum to make it appear the Greek people want Brussels,” writes Armstrong.
“This appears to be their only way of diverting the crisis with orchestrating a fake YES vote to economic suicide. The Troika will attempt to rig the referendum as they did with the Scottish elections.”
Armstrong’s claim isn’t that outlandish given the derision that EU leaders had for the very idea of Greeks getting a vote in the first place.
When it was first discussed last week, the troika reacted with “contempt” and “disdain” to the very notion that Greeks would be given a democratic say in the future of their country, according to Varoufakis, who said EU leaders told him that “common people” couldn’t be expected “to understand such complex issues.”
As we highlighted earlier this week, reports are circulating that the IMF is ordering US tour operators to pay them directly and withhold money owed to Greek hotels, which if true is an astoundingly draconian form of capital control and a direct attack on Greece’s private business owners. The IMF denies the reports.
Some Greeks are worried about martial law and even civil war breaking out as a consequence of the country’s debt crisis. Billionaire Wilbur Ross told CNBC this week that the outbreak of social unrest in Greece could cause tourists to abandon the country.
If Greece votes yes, Prime Minister Alexis Tsipras will resign and bailout talks will resume with a newly formed government. If the ‘no’ camp wins, the country is widely expected to exit the Euro and begin printing its own currency once again.