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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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