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Back to To the Point

To the Point

Greek Voters Just Say "No"

After five years of pension cuts and tax increases, the prospect of greater austerity in exchange for another bailout was defeated yesterday by a margin of 60 percent. The banks are still closed, and Greece faces default, financial collapse, expulsion from the Eurozone — and possibly from the European Union.

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By Warren Olney • Jul 6, 2015 • 34m Listen

After five years of pension cuts and tax increases, the prospect of greater austerity in exchange for another bailout was defeated yesterday by a margin of 60 percent. The banks are still closed, and Greece faces default, financial collapse, expulsion from the Eurozone — and possibly from the European Union. Prime Minister Alexis Tsipras calls his referendum "a celebration of democracy" and, for the moment, EU leaders don't know what to do. One sign of possible conciliation is the surprise resignation of controversial Greek Finance Minister, Yanis Varoufakis. We look at possible options for America's biggest trading partner.

  • https://images.ctfassets.net/2658fe8gbo8o/AvYox6VuEgcxpd20Xo9d3/769bca4fbf97bf022190f4813812c1e2/new-default.jpg?h=250

    Warren Olney

    former KCRW broadcaster

  • KCRW placeholder

    Dina Kyriakidou

    Reuters

  • KCRW placeholder

    Mark Weisbrot

    Center for Economic and Policy Research

  • KCRW placeholder

    Jacob Kirkegaard

    Peterson Institute for International Economics

    NewsNationalPolitics
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