Greek Referendum Results: Landslide Win for No Vote in Greece



tsipras
The first official estimation for Sunday’s Greek referendum results show a victory for the NO vote with a 61% against a 39% YES vote with 46% of the votes counted, according to The Ministry of Interior and Administrative Reconstruction.

This is a very significant victory for the Greek government, which was campaigning in favor of the NO vote arguing that it will strengthen Greece’s negotiating power in its attempt to strike a better deal with its international creditors than the one previously offered.

On the other hand, European Commission President Jean Claude Juncker said on Friday that a NO vote would “dramatically weaken” the Greek negotiating position.

The implications of the vote are unclear at this moment.

The referendum was organized within a week, a period well below the 20 days most elections take to be organized.

The Greek parliament’s ratification of the referendum last Saturday evening triggered a series of events that made up for a very long week in Greece. On Sunday, the European Central Bank decided to not increase the European Liquidity Assistance to Greek banks and in response the government imposed capital controls and withdrawal restrictions on the same evening.

On Tuesday Prime Minister Tsipras requested a two year deal with the ESM which led to urgent Eurogroup meetings on the same and the next day. The outcome of the meetings was to postpone any further talks on the Greek request until after the referendum.

Stavros Theodorakis, the leader of the Potami party, was verbally attacked by around 30 voters in the voting station when he went to cast his ballot but there were no further incidents.

Overall, the voting process went smoothly without any problems reported.


2 COMMENTS

  1. Hopefully Stavros has learned he should have padlocked his mouth and let Samaras do the talking. Although many are wringing their hands or jumping for joy our predicament remains unsettled.

  2. The biggest concern for Greece is the use of Euro being restricted which would have devastating effects on the Greek economy. However, I dont think the eurocrats would go that far but there is an outside chance that they would try to make an example out of Greece for its defiance. They could try to throw Greece out of the Eurozone and try to hit Greece hard with economic sanctions just to prove to other countries how they would suffer in case they got any such ideas! The people of Greece just needs to stick together and if push comes to shove, there are many opportunities out there to make new alliances. Rich new alliances!! BTW, the eurocrats know this too so I wouldn;t worry too much. Especially since the eurozone itself isn;t in the strongest of economic positions for them to get too adventurous!

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.