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A comment on Greeks Reject Bailout Terms. Parent comment

Re:Greeks Reject Bailout Terms by tptacek on Sunday July 05, 2015 @05:26PM (#9835071)
That's not entirely accurate. Some of the "No" votes may be agreeing with his statement, but the premise of the referendum was that it would strengthen Greek's negotiating hand: the "No" votes are supposed to represent a demand for better terms from the EU, not a rejection of the idea of a bailout altogether.
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Re:Greeks Reject Bailout Terms by lifeisstillgood on Sunday July 05, 2015 @06:10PM (#9835252)
kinda... Yanis and tsiprias have been consistently clear - any deal must include debt restructuring. No sane person wants more debt looking at Greece's repayments levels, especially after 2020.

The "No" vote, to my understanding, strengthens their demand to have whole debt restructuring included in this deal - not put off till later.

Edit: this is a "strengthened hand", but subtly different to using that hand just to get more cash / debt. The ECB is like my bank manager wanting to give me an overdraft so I can make my mortgage payments so he does not have to foreclose. I want to have all debts up for discussion, he just goes on about overdrafts.

It is forcing the EU to face up to the realities of a single currency and fiscal union. But at least it is a democractic approach...

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Re:Greeks Reject Bailout Terms by peterfirefly on Sunday July 05, 2015 @07:56PM (#9835747)
And nobody sane would give Greece Yet Another Debt Restructuring without seeing reforms actually implemented first.
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Re:Greeks Reject Bailout Terms by sooheon on Monday July 06, 2015 @02:37AM (#9837192)
It's really tail chasing all the way down. Because according to the IMF, the reforms that they have demanded have done more harm then good, and have further hurt the chances of creditors seeing their money ever again.
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Re:Greeks Reject Bailout Terms by peterfirefly on Monday July 06, 2015 @06:06AM (#9837958)
Not quite what they said/wrote, actually. It was more like "given the lack of implemented reforms and privatizations, the current debt has become close to unsustainable and definitely will be unsustainable if they continue to not implement long promised reforms and privatizations".
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Re:Greeks Reject Bailout Terms by Jare on Sunday July 05, 2015 @05:40PM (#9835133)
> the premise of the referendum was that it would strengthen Greek's negotiating hand

Wrong. The reason for a referendum is so, whatever comes next, the people and the governing party go in knowing they are together, with a level of bonding that is extremely rare in our cynically modern western democracies. Compare with Spain's recently gag law, which was passed by the government against the will of almost half of their own voters (and presumably against 100% of everyone else).

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Re:Greeks Reject Bailout Terms by tptacek on Sunday July 05, 2015 @05:45PM (#9835152)
Somebody forgot to tell that to the government of Greece:

http://www.reuters.com/article/2015/07/05/us-eurozone-greece...

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