Greek Referendum voting has closed, preliminary results show 60% voting for No - Polidicks

[B]Really honestly final update:[/B] [URL="http://yanisvaroufakis.eu/2015/07/06/minister-no-more/"]Minister of Finance Yianis Varoufakis resigns [/URL] According to his blog post his resignation was a "self-sacrifice" to get the debt talks forward. -- [B]Final Update:[/B] 61.31% voted NO 38.69% voted YES 5.80% invalid/blank Voted on by 62.50% of registered voters -- [B]Live updates on current developments: [/B][URL="http://ekloges.ypes.gr/current/e/public/index.html?lang=en#"]Current percentage of counted votes[/URL] [URL="http://www.thepressproject.gr/details_en.php?aid=78759"]The Press Project[/URL] (Independent Greek News site, English) [URL="http://www.bbc.com/news/live/world-europe-33400127"]BBC[/URL] -- [B]Update 2:[/B] [URL="https://twitter.com/AFP/status/617788521416400896"]Former PM and Main Opposition party leader Antonis Samaras resigns[/URL] Percentage curently sitting at 61.53% -- [B]Update 1:[/B] "No" votes now over 61% of voters -- Original post: [thumb]http://i.imgur.com/8zTiJ1L.png[/thumb] The referendum proposal: [quote] Should the agreement plan submitted by the European Commission, the European Central Bank and the International Monetary Fund to the Eurogroup of 25 June 2015, and comprised of two parts which make up their joint proposal, be accepted? The first document is titled "Reforms For The Completion Of The Current Program And Beyond" and the second "Preliminary Debt Sustainability Analysis." ❑ Not approved / NO ❑ Approved / YES [/quote] Translation: [URL="http://www.bbc.com/news/world-europe-33399718"]BBC[/URL]

So, what will in practice be the immediate effects in in the very likely case of No?

This is going to be catastrophic for the Eurozone.

Good on Greece.

[QUOTE=Im Crimson;48127777]So, what will in practice be the immediate effects in in the very likely case of No?[/QUOTE] No one really actually knows. The government claims that the Referendum's results will help them have a stronger position in ECB/IMF negotiations. On the other hand, the Greek media has been terrorizing people for the past week that "no==drachma, povery and sadness" so it'll be pretty funny to see them react to the actual result. [QUOTE=Marceline;48127780]This is going to be catastrophic for the Eurozone.[/QUOTE] It would be if it meant Grexit... but it doesn't automatically mean Grexit. All kinds of interesting shit happening in the next week, for sure.

I want to congratulate Greece on this decision, truly the best out of the two.

the media fear-mongering has been really annoying these last months

So what's the outcome of this result? The Greek situation is pretty complex

maybe this paves the way for Turkey... (just kidding) to be honest, I wonder what lies ahead for Greece. Infrastructure, public & private assets and investment might get devalued even more plunging them even further towards being practically worthless

Could someone post a crash course on what this means?

[QUOTE=James xX;48127870]Could someone post a crash course on what this means?[/QUOTE] Well the good thing is that it'll be dirt cheap to be a tourist in Greece. And that's pretty much it.

Tsipras: Eurotroll 2015 It's not a Grexit referendum at least so it's fine for now. It would just mean more negotiations, hopefully leading to a deal that doesn't break our flimsy Greek pockets and pensions. Grexit advocates mostly want an actual strategy if it were to happen unlike what would happen with a Tsipras-led Grexit. Regardless, a Grexit is economic suicide as the Drachma is worthless. It was 350 to 1 euro at the time of joining the EU, but with investors NOPEing out of Greece in the event of a Grexit it will easily go in the thousands.

[QUOTE=Im Crimson;48127777]So, what will in practice be the immediate effects in in the very likely case of No?[/QUOTE] germany says no, greece defaults, and the leadership of greece gets blamed for allowing the future of their country to be decided by the people of greece, then after some bootlicking they maybe talk about debt restructuring which is what all this brinksmanship has been about, germany wanting to crush greece's economy to death, greece demanding some debt restructuring [I]like germany recieved after ww2 and reunification[/I]

[QUOTE=Van-man;48127891]Well the good thing is that it'll be dirt cheap to be a tourist in Greece. And that's pretty much it.[/QUOTE] Well, after these circumstances: I think that the intent to be a tourist in Greece may drop as well.

[QUOTE=Marceline;48127939]Well, after these circumstances: I think that the intent to be a tourist in Greece may drop as well.[/QUOTE] Not really, it'll be really cheap for a while to tourist in Greece, thusly their economy will slowly, but surely, start to get back onto it's own feet, without the greedy fucks wanting nothing more than to screw over the country in Brussels. I really hope this will lead to a Greece exit out of EU, and that the cards start falling with that.

[QUOTE=The fox;48127956]Not really, it'll be really cheap for a while to tourist in Greece, thusly their economy will slowly, but surely, start to get back onto it's own feet, without the greedy fucks wanting nothing more than to screw over the country in Brussels. I really hope this will lead to a Greece exit out of EU, and that the cards start falling with that.[/QUOTE] Let's not forget the greedy fucks in Athens who wanted nothing more than free money for all.

[QUOTE] [...] greece demanding some debt restructuring [I]like germany recieved after ww2 and reunification[/I][/QUOTE] Fun part is that Germany paid many WW2 reparations, but Greece got none of theirs. Anti-German old people repeat that fact to death in Greece. Don't quote me if my 'fact' is wrong.

[QUOTE=The fox;48127956]Not really, it'll be really cheap for a while to tourist in Greece, thusly their economy will slowly, but surely, start to get back onto it's own feet, without the greedy fucks wanting nothing more than to screw over the country in Brussels. I really hope this will lead to a Greece exit out of EU, and that the cards start falling with that.[/QUOTE] the Greeks fucked themselves over and now they want Europe to make sacrifices for them if Portugal made it out, Greece can make it out if they make their own sacrifices, just as we did alongside the EU, not against it

[QUOTE=Gwoodman;48127975]the Greeks fucked themselves over and now they want Europe to make sacrifices for them if Portugal made it out, Greece can make it out if they make their own sacrifices, just as we did alongside the EU, not against it[/QUOTE] You can't really put the blame on the current government for the financial situation, they've been on the reins for 5 months. I will agree, though, that the past 5 years of politics were taking Greece on a tour with the "fuck me up" express train.

[QUOTE=The fox;48127956]Not really, it'll be really cheap for a while to tourist in Greece, thusly their economy will slowly, but surely, start to get back onto it's own feet, without the greedy fucks wanting nothing more than to screw over the country in Brussels. I really hope this will lead to a Greece exit out of EU, and that the cards start falling with that.[/QUOTE] Except for the detail that the tourism industry is not the real backbone of the Greek economy, despite being an important part of it. Shipping is far more important and has been for decades. If the govermment of 30+ years ago hadn't drained the Nautical Treasury (called NAT) then Greece would have been much better off.

[QUOTE=Gwoodman;48127975]the Greeks fucked themselves over and now they want Europe to make sacrifices for them if Portugal made it out, Greece can make it out if they make their own sacrifices, just as we did alongside the EU, not against it[/QUOTE] the IMF even has said the plan to prevent any deficit spending is absurd and won't ever work even continued for 50 years, also theyve been living under backbreaking austerity for 5 years without any problem, now they want a better deal that eases up on the crushing austerity and lets the economy resurface

[QUOTE=i_speel_good;48128003]You can't really put the blame on the current government for the financial situation, they've been on the reins for 5 months. I will agree, though, that the past 5 years of politics were taking Greece on a tour with the "fuck me up" express train.[/QUOTE] I am going to blame them for sinking Greece's economy just as it was starting to grow after 5 years of contraction.

[QUOTE=Gwoodman;48127975]the Greeks fucked themselves over and now they want Europe to make sacrifices for them if Portugal made it out, Greece can make it out if they make their own sacrifices, just as we did alongside the EU, not against it[/QUOTE] you can't really compare the two we only care about football and social status

[QUOTE=i_speel_good;48128003]You can't really put the blame on the current government for the financial situation, they've been on the reins for 5 months. I will agree, though, that the past 5 years of politics were taking Greece on a tour with the "fuck me up" express train.[/QUOTE] You mean the idiots who wasted five months on meaningless (but costly) gestures, shameless populism and trying to relive the 'glory days' of PASOK? All while their members played Che Guevara in Europe and acted like big words and hope can fill the ATMs? Yeah, no, it's their fault as much as any other government's: we were improving, slowly but steadily, and within a single week they managed to crash what little remained of the economy.

[QUOTE=NGC;48127909]Tsipras: Eurotroll 2015 It's not a Grexit referendum at least so it's fine for now. It would just mean more negotiations, hopefully leading to a deal that doesn't break our flimsy Greek pockets and pensions. Grexit advocates mostly want an actual strategy if it were to happen unlike what would happen with a Tsipras-led Grexit. Regardless, a Grexit is economic suicide as the Drachma is worthless. It was 350 to 1 euro at the time of joining the EU, but with investors NOPEing out of Greece in the event of a Grexit it will easily go in the thousands.[/QUOTE] But at least exports will be more competitive :downs:

[QUOTE=AlienCreature;48128115]You mean the idiots who wasted five months on meaningless (but costly) gestures, shameless populism and trying to relive the 'glory days' of PASOK? All while their members played Che Guevara in Europe and acted like big words and hope can fill the ATMs? Yeah, no, it's their fault as much as any other government's: we were improving, slowly but steadily, and within a single week they managed to crash what little remained of the economy.[/QUOTE] If we were improving, why did the IMF agree last week on its report that the debt is unsustainable?

[QUOTE=i_speel_good;48128144]If we were improving, why did the IMF agree last week on its report that the debt is unsustainable?[/QUOTE] Because after the elections last year, your government reversed the austerity measures put in place by the previous government.

[QUOTE=FalconKrunch;48128162]Because after the elections last year, your government reversed the austerity measures put in place by the previous government.[/QUOTE] The elections were this January's end, and no they didn't. They kept on the program as it was until its expiration last week.

[QUOTE=The fox;48127956]Not really, it'll be really cheap for a while to tourist in Greece, thusly their economy will slowly, but surely, start to get back onto it's own feet, without the greedy fucks wanting nothing more than to screw over the country in Brussels. I really hope this will lead to a Greece exit out of EU, and that the cards start falling with that.[/QUOTE] Haha no, it's mean that Greece will be fucked even harder when the global economy goes down the shitter again so people saves all their money instead of going on vacation. Greece ended in this position in the first place because of their heavily Tourism funded economy, that and their hilariously shitty tax system that made tax evasion children's game, and generally shitty work ethics ever since they got in the Euro club. They've been digging their own hole, and when offered help they get arrogant, so they got nobody to blame other than what's in their mirror.

The debt is impossible to pay no matter what option do you choose. The last years have shown how the austerity measures did nothing but to raise the debt, is time to change the strategy.