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Sunday’s referendum will have a huge impact in Greece, some impact in Europe and relatively little impact in the United States, experts agree.
With a “yes” vote, Greece gets to stay in the euro zone and continue to use the currency. But its $359 billion in debt potentially dooms it to a financial quagmire of double-digit unemployment and paralyzed banks.
A “no” vote and a default on that debt could trigger a return to the drachma and plunge Greece into a financial hell of runaway inflation, though the long-term might wind up rosier.
For the rest of the world, a Greek exit from the union of 19 euro-zone nations could lead to some market turmoil. But given the country’s tiny GDP — equal to that of Connecticut — only the smallest of ripples would hit the United States.
