‘No,’ says Greece
Greece faced an uncharted future as its interior ministry predicted Sunday that more than 60 per cent of voters in a hastily called referendum had rejected creditors’ demands for more austerity in exchange for rescue loans.
Prime Minister Alexis Tsipras, who was gambling the future of his five-month-old left-wing government on the vote, insisted that a “no” vote would strengthen his hand to negotiate a better deal with creditors, while a “yes” result would mean capitulating to their harsh demands.
The opposition has accused Tsipras of jeopardizing the country’s membership in the 19-nation club that uses the euro and said a “yes” vote was about keeping the common currency.
With about a quarter of the votes counted Sunday evening, the Interior Ministry issued an official projection that the “no” side would win handily.
The vote was held amid banking restrictions imposed last Monday to halt a bank run, with Greeks queuing up at ATMs across the country to withdraw a maximum 60 euros per day. Banks have been shut all week, and it is uncertain when they will reopen.
Governing left-wing Syriza party Eurodeputy Dimitris Papadimoulis said that “Greek people are proving they want to remain in Europe” as equal members “and not as a debt colony.” The referendum was Greece’s first in 41 years.
Papadimoulis said the country should wait for the official and final results of Sunday’s referendum, and called on his fellow countrymen to remain calm.
Minister of State Nikos Papas, speaking on Alpha television, said it would be “wrong to link a ‘no’ result to an exit from the eurozone. If a ‘no’ prevails that will help us get a better agreement.”
Tsipras’ high-stakes brinkmanship with lenders from the eurozone countries and the International Monetary Fund re- sulted in Greece defaulting on its debts this week and shutting down its banks to avoid their collapse. He called the referendum last weekend, giving both sides just a week to campaign.
“Today, democracy is defeating fear ... I am very optimistic,” Tsipras said earlier in the day after voting in in Athens.
European officials have openly urged Greeks to vote against the government’s recommendation.
“I hope people say ‘yes,’” European Parliament President Martin Schulz told German public radio. “If after the referendum, the majority is a ‘no,’ they will have to introduce another currency because the euro will no longer be available for a means of payment.”
As voters flocked to polling stations, large lines once again formed at ATMs.
Daniel Tsangaridis, a 35-yearold Athens resident, said he didn’t expect banks to reopen soon, despite a government pledge that they would do so Tuesday.
“It’s not going to happen in the next 48 hours,” he said. “If the situation improves and we can have a deal, then the banks will open.”