# Only Divine Intervention Can End This Greek Tragedy

1 Opinion July 8, 2015 Fortune ![Nicholas Economides](/sites/default/files/styles/246w/public/assets/images/uat_025567.jpg?itok=-EvyvLF-) By Nicholas Economides > If there is no agreement, Greece will be the first country to leave the “club with no doors,” the eurozone.

With chaos descending on Greece, Prime Minister Alexis Tsipras faces countless hurdles to strike a deal with international creditors and have Greece stay in the eurozone.

We’ve watched the situation in Greece spiral, and following last Sunday’s resounding “no” vote, the Greek economy is now at the brink of complete desperation. Banks have been closed for 11 days. Depositors can withdraw only 50 to 60 euros per day. Pensioners form long lines to get 120 euros, a fraction of their pension. Business is at a standstill with companies giving forced furloughs to employees.

And there are growing worries of shortages of medicines, fuel and food. But what’s worse is the widespread fear that Greece will leave the euro, resulting in a total collapse of the Greek banking system, widespread poverty and an inflationary spiral of the new drachma.

Read full article as published in [Fortune](http://fortune.com/2015/07/08/greece-1202481/)

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*Nicholas Economides is a Professor of Economics.* ## More Opinions from Nicholas Economides

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