The Greeks have voted ‘no’. Now, the real crisis will begin
In a landslide vote, the Greeks have said ‘no’ to the latest EU bailout deal – and, perhaps, to the Euro itself. Alexis Tsipras will stay as Prime Minister, and treat the result as a mandate to negotiate a better deal. But that’s not how the Germans see it: their economic affairs minister, Sigmar Gabriel, has just told the Tagesspiegel newspaper that the Greek ‘no’ has just ‘torn down the last bridges on which Greece and Europe could have moved towards a compromise’ and furthermore: ‘With the rejection of the rules of the eurozone … negotiations about a programme worth billions are barely conceivable.’ So events may now well spiral out of anyone’s control. Here’s what we’re facing… 1)