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The Eurozone’s new strategy: hope for a Yes vote in Greece

29 June 2015

6:57 PM

29 June 2015

6:57 PM

The question that will be on the ballot paper in Greece on Sunday is rather wordy, so European leaders have been trying to simplify it for Greek voters today. Their message has been vote Yes to the bailout deal to stay in the Euro and No for a return to the Drachma. Their logic is that however much Greeks may dislike imposed austerity, they don’t actually want to leave the Euro.

It has become clear today that the Eurozone’s strategy now is not to try and put together a last minute agreement but to instead rely on a Yes vote on Sunday. This would lead to the fall of the Syriza-led government and the Eurozone’s hope is that a deal could then be done with a new, more emollient Greek government. Indeed, there seems to be little hope of a last gasp compromise by either side. Reports from Athens tonight are confirming that it will not make the payment due to the IMF tomorrow.

With little prospect of a last minute deal, attention now turns to how Greece will vote on Sunday. One of the big determinants of that will be who they blame for the insecurity and uncertainty of the next few days—the country’s creditors or its government?


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