Varoufakis on Referendum Result: ‘Greeks Returned Ultimatum to Creditors’


“The ultimatum has been returned to to the creditors,” noted Yanis Varoufakis on Sunday night from Athens after the official results of the Greek Referendum showed that most Greeks say no to a previous take-it-or-leave-it proposal offered to the creditors.

“Today’s no is a big yes to a democratic Europe,” said a smiling Varoufakis.

After the landslide win of the NO vote he supported, Greece’s Finance Minister Yanis Varoufakis said that tonight Greece put an end to 5 years of bad medicine.

Varoufakis said that creditors wrongly believed that the bankruptcy of the Greek state could be averted with new loans the poor would have to pay.

“We said no to new loans unless we have restructured our old ones,” however, Varoufakis said that he fully supports real reforms that kill corruption.

The end of austerity and the restructuring of Greece’s debt was always a discussion creditors did not want to have, but now they will have to negotiate based on the resounding win of the NO vote.

Even with the fear that was spread through the “mass media of oligarchy” and with Greek banks closed in absence of ECB liquidity,  Varoufakis noted that the vast majority of Greeks still said a big NO to the creditors’ previous proposal.

“We are ready to sit at the negotiations table and we are looking forward to holding discussions with the ECB who kept a neutral position, and the IMF that agrees with our position of debt restructuring and the European Commission that could play a positive role for Greece.


  1. Marxist Varoufakis is no doubt gloating at his win. The Taliban may be popular in Afghanistan for a time too but nevertheless were viewed as irrational fanatics by virtually everyone else. Our leftists can fantasize how they are popular all the wish but in the end every government in the EU continues to stand against them. (backed by the majority of the people of Europe)

    There is no way the EU will give political capital to a Marxist like Tsipiras (especially not after all the rhetoric he uses against them). The far left and far right Greeks that voted no, have effectively voted to be slowly shown the door out of not only the Euro but Europe as well. They’ve let their bloated sense of indispensability to Europe, hubris, to dramatically misjudge what is going on elsewhere in Europe.