Cramer's Watching Greece Next Week, 'Yes' Means Strong Market, Bad For EU

Jim Cramer tells investors that the thing to watch out for next week ‘is very simple: we need to see what the referendum is for Greece.’ Greece will vote on whether or not to accept or decline the bailout program proposed to Greece by the International Monetary Fund on July 5th after Greece failed to pay its debt obligations to the International Monetary Fund on June 30th. Greece will not speak to its creditors until after the referendum. Although the vote is about Greece accepting the bailout program, the potential for Greece leaving the Eurozone and the European Union is much higher were they unwilling to accept the terms of the agreement. Cramer says that ‘it is important that Greece stay in the Euro if you want the stock market to be strong’ but thinks that on the ‘longer term, it’s bad.’