Thanks to its failure to meet its debt obligations, Greece is now slapped with capital controls and no other options to move cash around apart from bitcoin. Several sites are offering bitcoin loans and investments, as banks and the stock market are closed in Greece.
With this disruption in normal economic activities, Spartan Route is offering bitcoin in exchange for buying Greek exports. The site mentions that a potential exit from the euro zone could leave the country unable to sell a bulk of its products, as trade relations guarantee that most shipments are sent to other member nations.
Bitcoin and Greece
Spartan Route also claims that the Greek people are being financially blackmailed by their creditors, referring to the EU and IMF, in demanding additional austerity measures in exchange for more bailout funds. Greek citizens are set to have a state referendum on July 5 to vote on whether or not they’re willing to accept more spending cuts.
Spartan Route proposes economic connectivity through bitcoin by purchasing Greek exports in bitcoin. The site will invoice the customers in euros while merchants still complete the delivery through the normal process and be paid in bitcoin.
In its blog post, the company noted that the burden placed by Greece’s creditors would just put the country deeper into recession and push joblessness to new highs.
“Bitcoin can help the people of Greece. The Greek people are wrestling their sovereignty back form the EU and Greek nationals can chart their own economic course through the adoption of Bitcoin. Bitcoin can also help the Greek export industry to stay intact, economic sanctions make it near impossible from many Greek business to operate and survive,” it concludes. “The adoption of Bitcoin can help transcend these trade barriers, opening up Greek exports to the world once more.”