Greek Referendum on IMF/Troika deal

[Tetro Kornbluth]

In the past two hours, Greek PM Alexis Tsipiras has announced that within the next week(!) Greece will hold a referendum on the provisions of the current deal between the Greek Government and the various institutions which represent Greece's international creditors. This is after a previous deal consisting of raising taxes to defend pensions and social security that was almost agreed upon before some of the creditors reneged on it. The deal that will be voted afaik is a far more stringent, less favourable to SYRIZA, deal.

I will post more on this as it comes through. Discuss the referendum here.

[Tetro Kornbluth]

Here is a blog post by Paul Mason giving background to the referendum, what is being asked, and what can be expected. It is full of typical Masonesque overstatement and dramatics but the best summary I can find on the web as of now.

[Tetro Kornbluth]

Yanis Varoufakis' 6 reasons to vote NO on Sunday

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I've bolded five because..... he doesn't really believe that, does he?

[Tetro Kornbluth]

An NSA hack from the horses' mouth



TW: Vox.com - Vox have an interesting theory about this

[Tetro Kornbluth]

You say apathy, I say resignation. There's much enthusiasm for both options (of course: largely because the referendum is effectively a referendum on the government itself) but I don't think we should be surprised if a lot of Greeks see it as a choice between different forms of cancer.

There's also the fact that it isn't clear what exactly the question is...

[Tetro Kornbluth]

VERY high rate of invalid and blank votes going from early return - up to 6% in some places.

[Tetro Kornbluth]

Athens A seems to be closest of all the districts... at least from a simple glance. Probably unsurprising... follows EU referendum patterns.

[Tetro Kornbluth]

My not great Spanish translates that as "Whatever the result of the referendum, there will be an agreement on Monday. I am completely and absolutely sure."

As for the spoiled ballot rate, it might be more the confusing nature of the ballot paper (you had to sign it with a cross) rather than KKE absentionists. I mean, the KKE is a pretty small party in the scheme of things.

[Tetro Kornbluth]

Ag, how are you seeing results from places like Sparta - the lowest level I can get is Electoral District?

[Tetro Kornbluth]

[Tetro Kornbluth]

Sadly to our crimson friends this is the end of the austerity will "end" if we just say so! 
project.

and you seem to operating under the assumption that austerity will end if Greece does 'reforms'.... assuming that they can.

[Tetro Kornbluth]

Hopefully something gets done now, because I don't want the same crappy situation again in 3 years when the 4th bailout package looms ... maybe they can take a look at Spain and Ireland where the GDP growth has returned to 3-4% this year. Greece needs some really tough and long-lasting reforms now that get the economy back on track.

You have to be actively delusional if you think Ireland and Spain's recovery has to do with the 'deepness' of reforms imposed or the strength of the bailout proposals.

Ireland's actually had very little structural reforms, rather it has increased or put in place all kinds of taxes and rowed back some bits of spending... but very little has changed to the structure of the economy, which is why the housing market looks like it is overheating again.

[Tetro Kornbluth]

When people talk about 'necessary' or 'desirable reforms', can they please give a concrete example of what countries on the periphery should do to carry these out? Otherwise it just seems like arghblargh to justify callousness and ethnocentric smugness.