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Thread: Greece's Tsipras calls referendum to break bailout deadlock

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    Re: Greece's Tsipras calls referendum to break bailout deadlock

    Apparently, it appears that Prime Minister Tsipiras' impulsive move to evade leadership responsibilities pulled the rug out from his negotiators who were still talking when he made his move. From Bloomberg.com:

    Shortly before midnight on Friday in the Belgian capital, the Greeks and representatives of the European Union and International Monetary Fund, tucked away in the EU Commission’s Charlemagne building, learned via Twitter that their efforts were in vain, according to an EU official.

    It was the first time Prime Minister Alexis Tsipras’s Brussels negotiators had heard about it. They soon left the room, their attempts to thrash out a compromise in tatters.


    Greeks Working on Deal Blindsided by Twitter Post on Referendum - Bloomberg Business

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    Re: Greece's Tsipras calls referendum to break bailout deadlock

    Quote Originally Posted by donsutherland1 View Post
    The EU won't sponsor any coups. Coups are incompatible with the EU's principles.
    Not really, since the move to impose a settlement on Greece that is against the will of the democratically-elected government and counter to the expressed wishes of the great majority of Greeks is tantamount to a coup i.e the undemocratic imposition of an illegitimate power by de facto means, usually (although not exclusively) by the use of violent coercion. The Troika is positively insisting on a coup.
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    Re: Greece's Tsipras calls referendum to break bailout deadlock

    Quote Originally Posted by donsutherland1 View Post
    Apparently, it appears that Prime Minister Tsipiras' impulsive move to evade leadership responsibilities pulled the rug out from his negotiators who were still talking when he made his move. From Bloomberg.com:

    Shortly before midnight on Friday in the Belgian capital, the Greeks and representatives of the European Union and International Monetary Fund, tucked away in the EU Commission’s Charlemagne building, learned via Twitter that their efforts were in vain, according to an EU official.

    It was the first time Prime Minister Alexis Tsipras’s Brussels negotiators had heard about it. They soon left the room, their attempts to thrash out a compromise in tatters.


    Greeks Working on Deal Blindsided by Twitter Post on Referendum - Bloomberg Business
    The Greeks made the same mistake we made.

    Electing a ideologue and not a leader comes with some pretty substantial consequences.

    The left wing anti-austerity rhetoric that he used to gain power is absolutely useless as a bargaining tool when dealing with Greece's creditors.

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    Re: Greece's Tsipras calls referendum to break bailout deadlock

    Quote Originally Posted by Andalublue View Post
    Not really, since the move to impose a settlement on Greece that is against the will of the democratically-elected government and counter to the expressed wishes of the great majority of Greeks is tantamount to a coup i.e the undemocratic imposition of an illegitimate power by de facto means, usually (although not exclusively) by the use of violent coercion. The Troika is positively insisting on a coup.
    But, since he has that popular mandate, he could just say no. Why is he deferring?

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    Re: Greece's Tsipras calls referendum to break bailout deadlock

    Quote Originally Posted by Ben K. View Post
    But, since he has that popular mandate, he could just say no. Why is he deferring?
    Why ever should a democratically-elected government submit a major decision to a plebiscite? People may argue that his election victory was about a broad range of issues, whereas this referendum will demonstrate the consensus of the nation on this one major issue.
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    Re: Greece's Tsipras calls referendum to break bailout deadlock

    Quote Originally Posted by Andalublue View Post
    Why ever should a democratically-elected government submit a major decision to a plebiscite? People may argue that his election victory was about a broad range of issues, whereas this referendum will demonstrate the consensus of the nation on this one major issue.
    (Few) People may argue that but I find it hard to believe. I've said it before but if the troika reacted to a no by offering a better deal, are they going to hold another referendum for that one? And so on, and so forth.

    Hell, are creditors and Greeks supposed to fund referendums ad nauseum now? Burn the creditors or don't. He was elected to lead a country, his citizens have lives to lead other than reading up on the minutes of the meetings he attended.

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    Re: Greece's Tsipras calls referendum to break bailout deadlock

    Quote Originally Posted by Ben K. View Post
    (Few) People may argue that but I find it hard to believe. I've said it before but if the troika reacted to a no by offering a better deal, are they going to hold another referendum for that one? And so on, and so forth.

    Hell, are creditors and Greeks supposed to fund referendums ad nauseum now? Burn the creditors or don't. He was elected to lead a country, his citizens have lives to lead other than reading up on the minutes of the meetings he attended.
    I think if Greece is to go down the default road (a la Ecuador 2008) then a clear mandate on that specific course of action will be invaluable.
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    Re: Greece's Tsipras calls referendum to break bailout deadlock

    Quote Originally Posted by Andalublue View Post
    I think if Greece is to go down the default road (a la Ecuador 2008) then a clear mandate on that specific course of action will be invaluable.
    Correa never passed the buck.

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    Re: Greece's Tsipras calls referendum to break bailout deadlock

    From Reuters:

    Greek conservative opposition leader Antonis Samaras will hold talks with the country's president on Sunday, the president's office said, after opposition parties condemned the government's call for a referendum.

    Samaras, head of the New Democracy conservatives, earlier this week said he would be willing to participate in a cross-party government to pull Greece back from the brink of bankruptcy.
    Greek opposition leader to hold talks with president Sunday | Reuters

    IMO, while it's good to see mature leaders trying to rescue Greece from a needless self-inflicted catastrophe, I doubt that former Prime Minister Samaras will be able to build a governing coalition at this point in time.

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    Re: Greece's Tsipras calls referendum to break bailout deadlock

    Quote Originally Posted by donsutherland1 View Post
    From Reuters:



    Greek opposition leader to hold talks with president Sunday | Reuters

    IMO, while it's good to see mature leaders trying to rescue Greece from a needless self-inflicted catastrophe, I doubt that former Prime Minister Samaras will be able to build a governing coalition at this point in time.
    Don, I gotta ask.

    What do you predict will happen if they default on the 30th?

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