Well Done Greeks, Its a "Brave Choice"

Well  done Greeks. You have made a brave choice. By rebuffing the European leaders, you have restored the nation's ride. The bailout terms as set out by  European leaders were just "blackmailing" and an emphatic "No" has helped prime minister Alexis Tsipras ti get better from creditors.  Its as great a victory as that of Alexander the Great. He is often ranked among the world's most influential people of all time, along with his teacher Aristotl.  If Alexander became legendary as a classical hero in the mold of Achilles, the Greeks of twenty-first century will be remembered for their heroic act. Despite being running out of money , it was a too hard to reject the terms of an international bailout. But brave people don't bothers for such things. Celebrating  in the streets after vote, people are head saying " There is no money but we will be ok".  The final result in Sunday's referendum was 61.3% "No", against 38.7% who voted "Yes". However, ground realities prove more harsher than emotions. What next?  Armed with popular mandate, prime minster  can immediately resume the talks with creditors more confidently and on his own terms. Earlier, his position stood weakened and he had no option for "muscle flexing". Undoubtedly, its not that easy to make European leaders  to agree to a new bailout but as Germany  and some more countries have shown 'flexibility', Tsipras can hope for better. Greece would now, certainly, like to end up defaulting to ECB though the latter will continue to freeze the emergency funding to Greek banks. Despite prime minster hope of  staying put in Eurozone, the Greece's exit appears imminent. European Central Bank's [ECB] decision to freeze emergency lending to Greek banks a week ago is causing a humanitarian disaster. Because even encumbered by savage restrictions on cash transfers and withdrawals, Greek banks are just days away from running out of cash and collapsing. In those circumstances, not only would millions of Greeks lose their savings, but companies would collapse. And Greece would run out of vital imported food, raw materials and medicine. Greek banks are desperately in need of a lender of last resort to save them, and the Greek economy.As of today, there could be three scenarios are: Grexit after attempted eurozone negotiations fall apart, Greek banks may collapse leading either to eurozone rescue deal or to Grexit and lastly Greek mandate persuades eurozone leaders to agree to revised deal. Greeks hope, last scenario comes true.




















The Prime
Thousands of Greeks celebrated in the streets after the vote, but European officials warned that it could see Greece ejected from the eurozone.
On Monday morning, Greece's finance minister said he was stepping down.
Yanis Varoufakis wrote on his website that he had been "made aware of a certain preference by some eurogroup participants, and assorted 'partners', for my… 'absence' from its meetings".
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The prime minister had judged this to be "potentially helpful to him in reaching an agreement", he added.
Mr Varoufakis repeatedly clashed with creditors in negotiations over the past months.
Meanwhile, the euro fell across the board in Asian markets.
'No blackmail'
Greece's governing Syriza party had campaigned for a "No", saying that the bailout terms were humiliating.
Mr Tsipras said late on Sunday that the Greeks had proved that "democracy won't be blackmailed."
Speaking in a televised address, he said: "Given the unfavourable conditions last week, you have made a very brave choice.''
"But I am aware that the mandate you gave me is not a mandate for rupture.''
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