05 July 2015

όχι - Greeks Overwhelmingly Vote 'No' to Austerity and Eurocracy - SP Futures Open Down 29 Points

"This struggle may be a moral one, or it may be a physical one, and it may be both moral and physical, but it must be a struggle. Power concedes nothing without demand. It never did and it never will. Find out just what people will submit to, and you have found out the exact amount of injustice and wrong which will be imposed upon them; and these will continue until they are resisted with either words or blows or both. The limits of tyrants are prescribed by the endurance of those whom they oppress."

Frederick Douglass

They tried to make a desert, and call it Greece.

Apparently Syriza has united the Greek people, and confounded all those who continually predicted their capitulation.

Now the real struggle for a workable solution must begin. 

To that end, Merkel and the Eurocrats have called a summit for Tuesday to discuss the situation.

Otherwise, the charade will continue, until exhaustion or reform.  The reform will not be initiated internally by the system.  It will take more acts of courageous protest and political action.

Live updates at The Guardian here.

Greeks defy Europe with overwhelming referendum 'No'
By Karolina Tagaris and Lefteris Papadimas

ATHENS (Reuters) - Greeks voted overwhelmingly on Sunday to reject terms of a bailout, risking financial ruin in a show of defiance that could splinter Europe.

With nearly half of the votes counted, official figures showed 61 percent of Greeks rejecting the bailout offer. An official interior ministry projection confirmed the figure as close to the expected final tally.

The astonishingly strong victory by the 'No' camp overturned opinion polls that had predicted an outcome too close to call. It leaves Greece in uncharted waters: risking financial and political isolation within the euro zone and a banking collapse if creditors refuse further aid...

Greece debt crisis: Greek voters reject bailout offer

With two-thirds of ballots counted, results from the Greek referendum show voters decisively rejecting the terms of an international bailout.

Figures published by the interior ministry showed 61% of those whose ballots had been counted voting "No", against 39% voting "Yes".

Greece's governing Syriza party campaigned for a "No", saying the bailout terms were humiliating.

The "Yes" campaign warned this could see Greece ejected from the eurozone.

Some European officials had also said that a "No" would be seen as an outright rejection of talks with creditors.

But Greek government officials have insisted that a "No" vote would strengthen their hand and that they could rapidly strike a deal for fresh funding in resumed negotiations.

Greek banks will reopen by Tuesday, they say.

"The German mind has a talent for making no mistakes, but the very greatest."

Clifton Fadiman