In an interview on FOX Business Network’s Making Money with Charles Payne, billionaire investor Wilbur Ross explained how a ‘no’ vote in the Greek referendum could have severe impacts on the country and its economy.
“I think the Greek people will figure out that a ‘no’ vote means no to the euro, no to a future for Greece, no to banks, no to almost everything,” he said.
Ross, who is part of a group of investors that poured about $1.5 billion into EuroBank, Greece’s third-largest bank, added, “I do think a ‘no’ vote is a deadly thing. Committing economic suicide is not a patriotic act.”
Late Tuesday, Greece missed a €1.5 billion IMF payment. In a statement, Gerry Rice, Director of Communications at the International Monetary Fund said, “We have informed our Executive Board that Greece is now in arrears and can only receive IMF financing once the arrears are cleared.” He also added that “the IMF received a request today from the Greek authorities for an extension of Greece’s repayment obligation that fell due today, which will go to the IMF’s Executive Board in due course.”