Greece’s Big Fat No

For indispensable reporting on the coronavirus crisis, the election, and more, subscribe to the Mother Jones Daily newsletter.


It appears that the Greek referendum is headed toward a landslide No vote. With about half of the votes counted as I write this, the No vote is very strongly in the lead and Greece’s interior ministry has released an official projection showing the No side winning 61 percent of the vote.

There are a couple of takeaways from this. First, I obviously don’t know squat about the Greek temperament. Let’s see now. What exactly is it that I said a few days ago? Oh yes, here it is:

In the end, the Greek public will be unwilling to back Tsipras in Sunday’s referendum and will vote to accept the European deal as is. The potential catastrophe of default and leaving the euro is just too scary for most of them to contemplate….So that’s my prediction. Unless Tsipras caves completely beforehand, the referendum will be held on Sunday and Greeks will vote to stay in the euro and accept Germany’s terms. It will basically be an unconditional surrender.

In technical terms, that was totally fucking wrong. Instead of caving in, the Greeks told Europe to take a hike. They refused to accept the austerity plan put in front of them and instead voted to support prime minister Alexis Tsipras’s effort to demand better terms. In general, that means they want Europe to (a) offer debt relief, (b) permit the Greek government to pass a higher budget supported by higher taxes; and (c) go a little easier on pension cuts.

The second takeaway is….oh forget it. Why listen to me anymore after this predictive debacle? Anyway, I don’t think anyone even knows what’s next now. Tsipras obviously has a vote of confidence and will stay in power. Angela Merkel and the rest of the Troika will have to decide whether to make a few concessions or simply refuse and let Greece twist in the wind. I honestly have no idea what they’ll choose. And the ECB will have to decide whether to keep Greece’s banks on life support for a while longer.

Stay tuned. It’s going to be a fascinating few weeks for those of us who don’t actually live in Greece and have to personally face the possibility of economic catastrophe.

SIX TRUTHS

Reclaiming power from those who abuse it often starts with telling the truth. And in "This Is How Authoritarians Get Defeated," MoJo's Monika Bauerlein unpacks six truths to remember during the homestretch of an election where democracy, truth, and decency are on the line.

Truth #1: The chaos is the point.

Truth #2: Team Reality is bigger than it seems.

Truth #3: Facebook owns this.

Truth #4: When we go to work, we're in the fight.

Truth #5: It's about minority rule.

Truth #6: The only thing that can save us is…us.

Please take a moment to see how all these truths add up, because what happens in the weeks and months ahead will reverberate for at least a generation and we better be prepared.

And if you think journalism like Mother Jones'—that calls it like it is, that will never acquiesce to power, that looks where others don't—can help guide us through this historic, high-stakes moment, and you're able to right now, please help us reach our $350,000 goal by October 31 with a donation today. It's all hands on deck for democracy.

payment methods

SIX TRUTHS

Reclaiming power from those who abuse it often starts with telling the truth. And in "This Is How Authoritarians Get Defeated," MoJo's Monika Bauerlein unpacks six truths to remember during the homestretch of an election where democracy, truth, and decency are on the line.

Truth #1: The chaos is the point.

Truth #2: Team Reality is bigger than it seems.

Truth #3: Facebook owns this.

Truth #4: When we go to work, we're in the fight.

Truth #5: It's about minority rule.

Truth #6: The only thing that can save us is…us.

Please take a moment to see how all these truths add up, because what happens in the weeks and months ahead will reverberate for at least a generation and we better be prepared.

And if you think journalism like Mother Jones'—that calls it like it is, that will never acquiesce to power, that looks where others don't—can help guide us through this historic, high-stakes moment, and you're able to right now, please help us reach our $350,000 goal by October 31 with a donation today. It's all hands on deck for democracy.

payment methods

We Recommend

Latest

Sign up for our free newsletter

Subscribe to the Mother Jones Daily to have our top stories delivered directly to your inbox.

Get our award-winning magazine

Save big on a full year of investigations, ideas, and insights.

Subscribe

Support our journalism

Help Mother Jones' reporters dig deep with a tax-deductible donation.

Donate