Όχι: Now what?
Live blog on results
Excerpt:
Germany's Deputy Chancellor Sigmar Gabriel, who has spoken to Tagesspiegel newspaper. He said Tsipras and his government were taking Greece down a path of "bitter abandonment and hopelessness." Tsipras has "torn down the last bridges which Europe and Greece could have crossed to find a compromise," Gabriel said. "By saying 'No' to the eurozone's rules...negotiations over billions of euros in bailout programmes are difficult to imagine."Comment: If these results stand ... should be an interesting week! WSJ: Greeks Set to Reject Bailout Terms
July 20th:
ReplyDeleteMonday, July 20 is shaping up to be a make-or-break moment for Greece’s future in the eurozone, after voters apparently overwhelmingly rejected the terms of a rescue package offered by their creditors.
That day, Greece is due to pay €3.5 billion ($3.9 billion) to the European Central Bank. The ECB is now keeping Greek banks in a state of suspended animation: alive, but unable to get their hands on additional emergency funds beyond the €89 billion they have already taken.
But if Greece misses the July 20 payment, the ECB is widely expected to cut them off entirely. If that were to happen, they would collapse and the government would have to print a new currency to restart them.