"NO" demonstration in Athens © Ggia | Wikimedia Commons
EssaysLiberal Democracy in Question

Democracy or Immaturity?

Interpretations of the Greek referendum in the Euro Zone

The referendum that Alexis Tsipras announced in the early hours of June 27, just days before the expiration of Greece’s rescue program, was from the very beginning a dangerous gamble with little chance of success. His main objective was to strengthen his position as far as his internal rivals are concerned — mainly the hardliners within Syriza who opposed a solution that would entail austerity measures — and his government’s negotiation tactics abroad. The referendum, announced hastily and featuring a fuzzily-worded question on the approval or dismissal of a text that was no longer under negotiation, divided the Greek people deeply and became the subject of heated debates. The clamorous 61% in favor of a “No” vote more accurately reflects people’s accumulated frustration over the ongoing hardship of five consecutive years, rather than an outright rejection of the common currency, as interpreted by the vast majority of the European leadership. …

READ MORE →