Yes means the average Greek will suffer incredibly and NO also means the average Greek will suffer incredibly.
However, it is sort of like if Greece were an individual and that individual was faced with making payments that would mean forever that your children are going to starve, have no future and likely want to commit suicide by the time they were 18 or 20 or to find another way (NO).
Which path would you choose?
No means you have to find another way forward but at least you might make a better life or not.
Bankruptcy isn't an option really but defaulting their loans is what they have already done earlier this week.
Now Spain, Portugal and Italy are worried that they might also be caught in this Catch 22 kind of situation as well at some point in the future. So, this could be a ripple effect across Europe and a smaller ripple effect around the world.
Also, if Greeks vote Yes they will lose Tsipras who is their present leader through all this mayhem.
To the best of my ability I write about my experience of the Universe Past, Present and Future
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