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By Robert A. Vella

In a bold and principled move, Prime Minister Alexis Tsipras has rejected a final ultimatum from international creditors to impose additional austerity measures upon Greece’s struggling economy in exchange for resolving the nation’s debt crisis.  Instead, he called for a national referendum vote which will allow the Greek people to democratically decide the issue once and for all.

Should such a vote reject the ultimatum, Greece would default on its debt obligations and would probably exit the European Union.  The stakes couldn’t be much higher.

The E.U. doesn’t want that to happen because it could spread to other member states also suffering from high debt and weak economies.  However, the international banking cartel – along with its technocratic political allies in the E.U. (e.g. German Chancellor Angela Merkel) – is committed to its austerity demands.  Their strategy presumes that faced with a difficult choice between austerity and economic ruin (i.e. default), Greek leaders will pragmatically choose the former – the lesser of two evils.  If you think that looks like blackmail, you’re not alone.

But, Tsipras doesn’t appear to be susceptible to that kind of blackmail.  He and his left-wing Syriza Party have qualities quite foreign to the technocrats – a principled belief in economic fairness and democracy.  Could you imagine pragmatist U.S. President Barack Obama or U.K. Prime Minister David Cameron allowing The People to decide the fates of their countries?  I certainly can’t.

Further reading:  Greece’s PM Tsipras Calls Referendum On Bailout Deal

2 thoughts on “Greek PM Tsipras rejects ultimatum from international creditors, calls for a national referendum

  1. I love this, Robert – ” Could you imagine pragmatist U.S. President Barack Obama or U.K. Prime Minister David Cameron allowing The People to decide the fates of their countries? I certainly can’t.”

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