Europe walked away from Greece. Paul Mason is the go-to guy on the subject.
" We’re staying in Europe! says the headline of the Greek liberal paper Kathimerini today.
While the far left government will pose the referendum as a vote for or against austerity, the right will say it’s an in-out vote for the single currency and the EU itself.
The problem is, at around 4pm on Saturday Europe changed. Faced with a proposal from the Greeks to extend the existing bailout until after 7 July, the Eurogroup refused.
At this point chairman Jeroen Dijsselbloem announced there would be “a meeting of the 18” – that is the Eurogroup without Greece. Asked how such a meeting could issue a communique he replied, according to a Greek witness “we can do what we like since we are an ad hoc body”.
The Brussels press corps dutifully reported that the Greeks had “walked out”. But if the Greek account is right, what happened at that moment was the psychological breakpoint of the Euro... "
- See more at: Greece referendum: did the euro just die at 4pm? | Paul Mason | Paul Mason
The only thing in doubt at the moment is whether the Troika will undemocratically pull the plug before the referendum is held.