Greece’s referendum on the European Union bailout is underway, and it appears the ‘NO’ vote is winning by 61 percent. Greece defaulted on its debt to the IMF.
If Italy, Spain and Ireland were to follow, what happens to the global economy and international financial markets? And how is the world’s financial health? China’s stock markets have tanked 30% in the past few weeks.
Tom Caldwell–Chairman of Caldwell Securities in Toronto–joined me to discuss the implications of a yes or no vote.