Alexis Tsipras, the Greek PM, is threatening to resign if the referendum next Sunday doesn’t go his way, claiming that only by voting against austerity would Greece be able to negotiate a settlement to the current crisis.
© Dave Pinnell
The referendum will ask voters whether to accept the terms put forth last week by eurozone creditors. In a live TV broadcast on Monday evening, Tspiras said he wanted the Greek people to vote no: “We ask you to reject it with all the might of your soul, with the greatest margin possible.”
He believes that in the event of a no vote, Greece would not have to exit the euro because the cost to its creditors would be too immense – in effect he’s playing a gigantic game of chicken with the rest of the EU.
Should the vote go the other way, Tspiras hinted he wouldn’t stick around to carry out the austerity measures. “If the Greek people want to proceed with austerity plans in perpetuity, which will leave us unable to lift our head… we will respect it, but we will not be the ones to carry it out,” he said.
Interesting times!
For more on the Greek debt crises, go to ADVFN’s Greek Crisis page: http://uk.advfn.com/greece-crisis.
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