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Who the heck is going to fund Greece, and what will happen if it goes under? Jim Cramer thinks someone has to bail it out, or there will be starving people and a massive emigration that Europe doesn't appear ready to handle.
Even worse, what if Greece defaults but then continues to insist on using the euro? Will the Europeans kick them out of the Eurozone?
In Cramer's perspective, one day people will be talking about "who lost Greece." Meaning, Greece will have gone over to the other side just like people spent the 1950s asking who lost China.
"When they ask who lost Greece, I think the verdict will be the Germans, and Germany will owe the rest of Europe an explanation for why they're being flooded with Greek immigrants looking for welfare, " the "Mad Money" host said.
It seems to Cramer that all of these elements are up in the air right now, and no one seems to have thought it all through, especially the Greek government. It just doesn't make sense how Greek politicians have failed to explain the consequences to Greek citizens, though Cramer speculated that with a 25 percent unemployment rate, maybe they just don't think it can get any worse.
"The Greek politicians act as if nothing good came from austerity anywhere. Sometimes it feels like they think the money's free, and there were never any strings attached," Cramer said.
It seems as though the people running Greece think this whole thing will end in a fairy tale. They default on their debt and issue new bonds, and a new batch of lenders will step up to buy the bonds. Cramer said they don't seem to understand what happens when a country is swamped by financial chaos—no one buys your bonds.
Thus, it is entirely possible to Cramer that the European Central Bank will have to step up to the plate again just to keep the Greek population from starving or overrunning other countries. Cramer is completely astounded that no one is talking about the potentially catastrophic consequences here.
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"Until I hear a concrete plan about how Greece can default but still stay in the Eurozone without mass starvation or emigration, then I remain convinced that this market can go lower and a better opportunity to buy stocks awaits, especially if the Fed turns out to be tone deaf about this grave issue," Cramer said.
Ultimately, this boils down to a bigger issue than the stock market. The real victims here are the people of Greece, in Cramer's opinion, as their leaders seem to be happy as a clam about this entire debacle.