What Is The Price That Greece Is Going To Pay For Saying No To Austerity

New York Times: With Greek ‘No’ Vote, Tsipras Wins a Victory That Could Carry a Steep Price

ATHENS — Now comes the hard part.

Prime Minister Alexis Tsipras may have won a victory at home on Sunday as the Greek people dealt a resounding “no” to European austerity policies.

But Greece risks paying a high price for that decision. While the vote sharply consolidated Mr. Tsipras’s popularity, that could fade quickly if he leads the country deeper into bankruptcy and financial chaos, creating a new round of instability with consequences for Greece and the broader European project.

If anything, Mr. Tsipras is likely to find it harder, rather than easier, to strike a new financing deal quickly with European creditors, heightening the risk that Greece will careen out of the eurozone unless Europe decides to give Mr. Tsipras and his defiant nation another chance.

WNU Editor: The Greeks voted no against austerity .... and no to paying off their debt obligations under the current terms. But they want money .... and they want the EU (and others) to provide assistance and relief. My prediction .... this vote has all but killed any possibility of more monies and relief .... and it will set into motion more talks, delays, confusion, and .... bottom line .... no money for Greece. The situation will now get worse .... and it will not surprise me if .... by next week .... this referendum result will be forgotten, and new crisis (and emergencies) will be emerging for the Greek government and for its citizens.