One Weird Trick To Help Greece

TechCrunch

It’s hard enough being a startup without the financial collapse of your country to contend with.

For those in Silicon Valley who are used to Uber being worth more than 40x the debt payment that Greece just missed, capital controls — which are just what they sound like — are an alien concept. But this is unfortunately not so for startups in Greece, who, because of restrictions on money that can leave the country, are now in arrears for their AWS and Google ad bills.

This week, the Syriza government failed in negotiations to receive a tranche of bailout money in time to make a $1.7 billion IMF payment on June 30th. Instead of deciding whether to accept the creditors’ offer himself, Prime Minister Alexis Tsipras put the decision to a referendum, or public vote, to be held this Sunday. Bear in mind that voting on fiscal matters is unconstitutional

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