Tsipras trumps Troika

BY TAGASSCHAU.DE

BERLIN, JULY 6 – The ECB tightened the credit conditions for Greece’s banks. But the step is much too late. The European Central Bank has its credibility long ago damaged

Instead of a previously anticipated close race it was at the end of a no-brainer: With 61.31 percent of the Greeks have said ‘no’ to the reform requirements of the funders – and strengthened Prime Minister Tsipras.The now wants to negotiate again, but the euro countries first meet for a special summit.

With a surprisingly clear majority, the Greeks have quashed the savings targets of international creditors by referendum. After counting all votes ballots voted 61.31 percent said “No” and therefore supported the confrontational stance of Prime Minister Alexis Tspiras. Only 38.69 per cent were in favor of negotiating under the conditions of the donors continue as the Athens Interior Ministry announced.

Shortly after the polls closed celebrated thousands of opponents of the reform program on the square in front of the Parliament in Athens. Many Greeks blame the creditors from the European Commission, International Monetary Fund and European Central Bank and its savings targets for the dramatic situation in their own country.

© Translation / Die Welt

The opposition had called on the population to “yes” vote. She saw the referendum as a vote on the whereabouts of Greece in the euro zone. After the “No” opposition leader Antonis Samaras resigned as leader of the conservative New Democracy. The ex-prime minister and predecessor-Tsipras said his party needed a fresh start.

Tsipras sees himself strengthened

Prime Minister Tsipras announced meanwhile to new negotiations with donors. The first priority but now the reopening of the closed banks, he said on Sunday evening in a televised address.Athens was ready to continue reforms.Urgently needed are investments and the restructuring of debt.

The Greeks, he said: “The mandate that you have given me, not calling for a break with Europe, but also gives me a greater bargaining power.” His government knew that there were no easy solutions. “But there are just solutions, sustainable solutions – as long as both sides are willing to.” The Greeks have taken to Tsipras’ view a “historic and courageous” decision. “Your answer will change existing dialogue in Europe.”

He said the Greek referendum have no winners and losers. The Greeks had proven under the toughest conditions that democracy itself will not let blackmail.National unity must be preserved.

 

Varoufakis ready for new negotiations

Tsipras Finance Yanis Varoufakis also said on television that the Greeks had no a “big yes to a democratic Europe”. The people have the “iron cage” rejected, had been forced into the Greece. The government will now reach out to donors, the “hand of cooperation” in new talks. Shortly before the referendum had Varoufakis donors sharply criticized and accused of “terrorism”.

The head of the Euro group, Jeroen Dijsselbloem, responded anxiously to the clear ‘no’ of the Greeks in the referendum.”This result is very regrettable for the future of Greece,” said Dutch Finance Minister. For recovery of the Greek economy “tough measures and reforms inevitably” be. “We will not wait for the initiatives taken by the Greek authorities,” Dijsselbloem added.

EU crisis summit on Tuesday

EU Council President Donald Tusk called an extraordinary summit of the leaders of the 19 euro area countries for Tuesday evening in Brussels. In preparation there should be on the same day a meeting of euro zone finance ministers. Chancellor Angela Merkel and French President Francois Hollande will discuss on Monday the consequences of the referendum. “Both agree that the vote of the Greek people must be respected,” it said in the brief statement.

Also on Monday, wants to consult with top representatives of the EU institutions on the way forward EU Commission chief Jean-Claude Juncker. There was a conference call with EU summit chief Tusk, Euro group chief Jeroen Dijsselbloem and the European Central Bank President Mario Draghi planned, the EU Commission said in Brussels.

The Greek banks are already largely closed for a week, the citizens’ access to their money is very limited. Finance Varoufakis advised according to his ministry at a crisis meeting with bankers, which demands one can make to the ECB. Actually, the banks are open again on Tuesday. But this is probably only possible if they get new cash.According to Greek media reports, the Greek central bank will ask the ECB to six billion euros emergency aid.

© Translation / Die Welt

Sieg für Tsipras-Lager – aber was ist er wert?

PHOTO: dpa