Most news sites are reporting that 60 -ish percent of Greeks reject the bailout. What happens next is going to be extremely interesting. I think the "no" vote was the right thing to do. I am sure that even if Greece gets kicked from the Eurozone it will be temporary. Now it is time for Greece to focus inward, and start getting in gear.
I agree - but the question is how, exactly, does Greece get into gear? I saw something that had a grexit at 75 percent probability - all just speculation of course - but if Greece did exit and they shifted to the Left, as in this scenario from the link -
- that would be incredibly interesting, and I'd love to see it happen if it was successful, as it seems like the best way forward for the Greek people, and would send a strong message. That said, I'm sure the practicalities of the above would ensure a fair amount of chaos, and most Greek people do want to stay in the EU... It seems like more negotiations and dealings will be forthcoming, in any case. I'm really struggling to get my head around all the potential implications and ramifications, but the No vote can only be seen as an important strike against austerity.The final scenario is Plan B with an actual plan. It is in some ways the riskiest but, given the other options, remains the most promising for Greek development and justice. Here, No wins, Greece exits, be it negotiated or unilateral, and there is a massive push to the left: nationalization of key sectors, notably the banking sector; the possible introduction of a parallel currency; restricted foreign exchange; imports of basic goods from allies; some kind of ration, however chaotic; a potential blockade of ports to begin disciplining Greek tankers, at the very least.
No matter what option is chosen there is going to be a severe amount of chaos. To my understanding Greece is trying to place itself in a system that it doesn't yet fit into. The Eurozone is comprised of quite a few wealthy and more importantly stable countries. Greece has been trying to play catch up with no luck. Hopefully with this referendum they can finally look inward. That means a lot of restructuring, but what is important is the fact that in the long-term they will be better off. They've definitely taken the tougher route, but I imagine that they will definitely see more long-term gains from deciding against austerity.