If Tsipras sold it to the people in the way you describe below it would be a certain yes vote IMO - which is why I have no respect for them. I'm afraid you're also underselling the economic disaster that would ensue as Greece would be seen as a country on its own, not to be trusted and nobody would lend to - this would be massive and set them back years and years. At least a yes vote can resolve some issues although I agree it will still be a very rocky road with the debt costs draining on the new bail out funds, etc - letting them off though would be worse and it would demonstrate to other weaker nations like Portugal, Spain what happens if you spend way beyond your means! ATB.
I agree that that they can give a no vote. I was expressing an opinion, albeit not clearly, that no one in their right mind in Greece can say no given the implications of disaster if they did. I would certainly not go there until things settled down which could take some time...
This is my point, Scfc. You may consider that a No vote is 'a vote for disaster'. I am not saying you are wrong.
But I think that Tsipras and Varoufakis sincerely do not think a No vote would be a disaster for Greece. If you subscribe to the Klugman/Stiglitz perspective, a No vote would be the best possible thing for Greece, as it would mean they regain control over their own economy and can put an end to austerity and implement policies that will lead to growth.
Well, selling out as I have is just as much of a risk, in fact, possibly more of a risk than holding over the weekend.
As you say, it is impossible to see if the Greek people will have the balls to stick two fingers up to the troika and vote No to austerity, or if they will give in and accept more austerity. My feeling is that they will vote No.
Ok, fair enough...but not keen on given those chaps any credit whatsoever as I think they now know the Germans will not backdown so a vote for no is a vote for disaster not a better deal as they're selling it.
Actually, you are mistaken. Greece is a sovereign entity. As a sovereign entity, they can always 1. Declare a default, and they no longer owe anyone anything. 2. Print their own currency, and use it for the internal workings of their economy.
These are drastic measures, but if you push a proud nation into a corner, then they will react in an extreme manner. So, a No vote is possible, it just means 1. Default 2. Exiting the Euro and returning to the Drachma
If this happens, then markets will be affected. Tourism will not dry up, it will receive a boost, because the drachma will devalue and Greek holidays will be cheap again, the way they used to be before the introduction of the Euro (remember those good old days?)
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