Greek Referendum Poll

[Zanza]

More austerity is the least favourable outcome for Greece. It has been proven already not to work. The best part, though, is that the Troika has really no way of forcing that on Greece. The worst they can do, unilaterally, is to cause Greece to default, while staying in the Eurozone - and they know this would be a disaster not just for Greeks.

Essentially, Greeks are Fremen now and they are threatening to blow up the entire supply of spice. The Troika (the Emperor, Bene Gesserit and the Space Guild) can just watch them do that or they have to negotiate.

What does Greece have that the Troika needs ("spice")? 

[Martinus]

Eurozone stability.

[Legbiter]

They could just let Greece default and stay in the euro. Everyone just goes on holiday and dosen't pick up the phone when Greece calls. 

Grimbo.

[Syt]

Nigel Farage@Nigel_Farage
EU project is now dying. It's fantastic to see the courage of the Greek people in the face of political and economic bullying from Brussels

[The Brain]

Carl Bildt
@carlbildt

Well, a clear majority in Greece doesn't want the help that other Euro countries have offered. Their choice. But tragic.

Help? I'm told the EU was herding Greeks into camps.

[Zanza]

Eurozone stability.

You might want to reread the news of the last five years. Greece is not exactly a source of Eurozone stability.

[Zanza]

They could just let Greece default and stay in the euro. Everyone just goes on holiday and dosen't pick up the phone when Greece calls. 

Why would Greece even negotiate with the terrorists again? Anyway, there won't be a new deal anytime soon. The Greeks are on their own for now.

[Agelastus]

With such an overwhelming "no" victory, yet the polls until very last moment reporting a really close vote, you can't help but think of some conspiracy theories...

or bad polling. Something we've seen plenty of the past few years

I think that with only a week of campaigning and decision making time there was probably a much higher proportion of people who ended up making their mind up at the last minute than would be normal for, say, a Greek general election. I think it's probably unfair to jump straight to "bad polling" in this specific case.

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I'm surprised that the turnout was as low as 62% though. All the news reports in the UK were talking about queues at the polling booths.

[Admiral Yi]

"Staying in the euro" is something Greece doesn't really need permission to do.  They could default and maintain the euro as the official currency.  Panama uses the US dollar as its official currency.  But their banks wouldn't have access to ECB financing.

[PJL]

"Staying in the euro" is something Greece doesn't really need permission to do.  They could default and maintain the euro as the official currency.  Panama uses the US dollar as its official currency.  But their banks wouldn't have access to ECB financing.

Which would force Greece out of the euro anyway. Unless Greece wants to make the events of the last week last indefinitely.

[Admiral Yi]

Which would force Greece out of the euro anyway. Unless Greece wants to make the events of the last week last indefinitely.

I don't follow.

[PJL]

Which would force Greece out of the euro anyway. Unless Greece wants to make the events of the last week last indefinitely.

I don't follow.

Greece would have a full blown banking crisis if the ECB withdrew support. Once that happens (if it's not already happening), then distribution and supply networks would disintegrate, causing shortages everywhere. After that, it would go into full panic mode, with society disintegrating.  In that scenario, printing a new currency (or at least stamping Euros with BoG stamps on them as a start) would be an absolute necessity just to run a basic economy.

Countries like Montenegro and Panama don't need their own currencies, as their banks are solvent, so no-one is worried about losing their money in the bank.

[Duque de Bragança]

Σkατά!

[The Brain]

This is madness!

[Crazy_Ivan80]

All the news reports in the UK were talking about queues at the polling booths.

practice for the communist hellhole many greeks seem to desire