In a historic vote, Greeks gave a major blow to the Europe Leaders by delivering a shocking denial to the bailout deal offered by the nation’s creditors.
However, the decisive rejection could redefine the Greece’s place in Europe and shake the continent’s financial stability.
As people gathered to celebrate in Athens' central Syntagma Square, the Interior Ministry reported that with more than 90 percent of the vote tallied, 61 percent of the voters had said no to a deal that would have imposed greater austerity measures on the beleaguered country.
The no votes carried virtually every district in the country, handing a sweeping victory to Prime Minister Alexis Tsipras, a leftist who came to power in January vowing to reject new austerity measures, which he called an injustice and economically self-defeating. Late last month he walked away from negotiations in frustration at the creditors' demands, called the referendum and urged Greeks to vote no as a way to give him more bargaining power.
While Tsipras now appears to have his wish, his victory in the referendum settled little, since the creditors' offer is no longer on the table. There remains the possibility that they could walk away, leaving the Greece facing default, financial collapse and expulsion from the Euro zone and, in the worst case, from the European Union.
Many praised the concept as it allows the public to decide any major issues that affects the nation. They argue that the Government cannot go by itself in such sensitive issues. They even urged that nations like India should also have this concept, so that all un-educated people cannot make law as they want.
But there is another version that condemns the Greeks action. “This is a very dangerous trend. How can people take loan and spend extravagantly and refuse to pay back. If this is the case, people enjoying on someone's money will increase. European leaders should be strict to teach Greece a lesson. The European Union should just seal the border and not allow any Greece to migrate. Stop all their Aids and let them realize that there is nothing called as Free Lunch.”, they said.
- Manohar
