The horizon is not so far as we can see, but as far as we can imagine

Greek Referendum Day

It’s here. I don’t have much to say about it I haven’t already, but if folks want a thread to discuss it, feel free to do so below. As with most readers, I imagine, I’m cheering for “no.”

Also, take a look at this video (which I can’t figure out how to embed). I can’t think of any other finance minister in the world who would get that reaction from any crowd.

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As a Subject of Her Majesty, the Queen, Long May She Reign


Consequences of the Greek OXI (No) Vote


  1. V. Arnold

    …but if folks want a threat to discuss it

    Erm, thread?

  2. V. Arnold

    Other than Putin; Varoufakis is one of the straightest shooters/speakers in the public forum today…

  3. I am hoping for No but expect Yes. Maybe they will surprise me, especially after that IMF report. The pensioners whose pensions constituted a red line? They are mostly Yes voters, it appears. They fear the immediate consequences of defiance, which to them will be worse than turning 700 EUR into 500 EUR.

  4. This is a great article by @sturdyAlex:

    That to me is why having a referendum was the right thing to do. When you can get clarity, it is always better to have it.

  5. I got this via DeLong’s blog. Not directly related, but instead on the EU’s crisis of democratic legitimacy. So, yeah, actually directly related after all (and a bit dated, but not by much):

  6. Pelham

    I’m not a big fan of Paul Krugman, but he had a nice line about Syriza’s decision to go ahead with the referendum — something about it being better to turn to the people than turn on them. Agreed.

    That said, I think if I were a Greek, I’d be pretty frightened and confused and inclined to vote “yes,” though from the (relative) safety of the States, I’d like to see them vote “no.”

    Regardless, I don’t see the referendum as any kind of litmus test individually. However they vote, I wish them all the best — except for their oligarchs.

  7. My pessimism (as is sometimes the case) was unwarranted in this case. I have long known that I am rubbish at election prediction.

  8. Taking a quick checked, most of the businesses are bankrupt. It really is the end. Now the question is can syriza make it work. They could have if they had gotten out early, but late? Who knows, especially when Germany is sitting on them. They will probably have to do a deal with the devil. That means Putin.

  9. mike

    I posted here a few months back that the speculation was much like the off-season talk about Major League Baseball’s coming season, with all the trades and such, which teams got stronger, worse, which players would do what. All for an outcome in October that was likely to be wrong. I’m sticking with that and waiting until fall to see what happens and who’s counted the winners/losers then, but I’m still listening to you in the meantime, Mandos. Getting the lay of the land right counts for so much when so many others are acting out their screaming cable pundit fantasies.

  10. Ken Hoop


    The oligarchs want people to be “frightened and confused” and to vote, or approve a vote
    “yes” in Greece, and here, as in for the bankster bailout.

  11. Tom

    Greeks told EU to fuck off and eat shit! Democracy won! EU leaders crying in their Beers!

    “Breaks out the popcorn, and drinks for celebration”

  12. Pelham

    So it does look as if they’re voting “no,” decisively.

    Hard to know what all comes of this, but one definite and wonderful thing is that a country horrifically ill-served by an international consensus has stood up for itself.

    For that, I think, the rest of us in the 99% or 90% owe them a round of applause.

  13. anonymouscoward

    No is winning, and now predicted to win easily. IT SHALL NOT PASS.

    I am surprised and elated! Well done, Greece. You proved them all wrong.
    (Time for certain economics pundettes to eat some crow, poached in retsina. Some pollsters should start covering their asses too.)

    Now the fight really begins. That’s what all the econobloggers will say, and it’s true. But for my .02 €, the Greek people have already won a huge historical victory. Kudos to Gen.s Tsipras and Varoufakis. Onwards to victory. May Brussels and Berlin cower before you, and may you leave them smoking slag heaps in your wake. But do not forget to salt the ground inside their walls, so no dragon’s teeth may sprout there again.

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