What May Be Greece’s Fear after Vote

After a referendum in which Greece rejected its creditors’ repayment terms, Constantine Michalos, president of the Athens Chamber of Commerce and Industry, said Monday one of the country’s main economic drivers, tourism, could suffer.

“The major fear at the moment is that, since we are at the peak of tourist season, [and] we cannot supply basic goods such as food items and pharmaceuticals, we run the risk of [hurting] not just the 10.5 million Greeks, but also the tourist wave that we have during this time of the year,” Michalos said in an interview on CNBC’s “Squawk on the Street.”

On Sunday, nearly 62 percent of Greek voters said “no” to the bailout terms, which sent most global stock markets into a tailspin. The European benchmark German DAX shed slightly more than 1.5 percent Monday, while Japan’s benchmark Nikkei 225 fell nearly 2.1 percent.

CNBC

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