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because European financial institutions are exposed and the IMF is looking at a giant hole in its books,
But financial institutions carry loans on their books at face value, don't they? And the IMF is an artificial entity that doesn't have to actually produce anything. So the only "real" bargaining chip that Greece has is a Grexit, and it refuses to use that chip.
Anything could happen, but I'm not buying the multi-dimensional chess theory.
At best, the referendum will reject the Troika deal and force the bungling Syriza to bungle its way to a Grexit.
But what if the referendum accepts the Troika deal?
But what if the referendum accepts the Troika deal?
They've already dealt with that eventuality. The deal expires on July 1 and the vote is not until the 5th, so that the vote cannot be on accepting the deal, since it no longer exists.
This is turning totally bizarro.
As Alexrpt at Red Pill Times pointed out, democracy is kryptonite for the EZ "supermen" (Übermenschen).
But a "yes" vote would still send the signal that there is no mandate to reject austerity and leave the Euro. It would empower the Troika and emasculate Syriza.
Mind you, I'm a fan of referendums, but I would like them better if they offered ranked choice voting for several different options.
Dan, see my comment in the other thread. The polls strongly suggest that "no" will win. If by chance, it doesn't, then the government calls for a new election, which they will definitely win. But this time with a mandate allowing for a Grexit.
4 comments:
because European financial institutions are exposed and the IMF is looking at a giant hole in its books,
But financial institutions carry loans on their books at face value, don't they? And the IMF is an artificial entity that doesn't have to actually produce anything. So the only "real" bargaining chip that Greece has is a Grexit, and it refuses to use that chip.
Anything could happen, but I'm not buying the multi-dimensional chess theory.
At best, the referendum will reject the Troika deal and force the bungling Syriza to bungle its way to a Grexit.
But what if the referendum accepts the Troika deal?
But what if the referendum accepts the Troika deal?
They've already dealt with that eventuality. The deal expires on July 1 and the vote is not until the 5th, so that the vote cannot be on accepting the deal, since it no longer exists.
This is turning totally bizarro.
As Alexrpt at Red Pill Times pointed out, democracy is kryptonite for the EZ "supermen" (Übermenschen).
But a "yes" vote would still send the signal that there is no mandate to reject austerity and leave the Euro. It would empower the Troika and emasculate Syriza.
Mind you, I'm a fan of referendums, but I would like them better if they offered ranked choice voting for several different options.
Dan, see my comment in the other thread. The polls strongly suggest that "no" will win. If by chance, it doesn't, then the government calls for a new election, which they will definitely win. But this time with a mandate allowing for a Grexit.
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