Greek debt crisis: What was the point of the referendum?
BBC News, Saturday 11th July 2015
Just over a week ago, Alexis Tsipras stepped on to a podium in Athens. “I call on you to say a big ‘no’ to ultimatums, ‘no’ to blackmail,” he cried. The Greek public followed his lead and 61% voted “No”. Roll forward seven days and Greece’s prime minister signed the very measures he had fought against. Corporate tax and VAT will rise, privatisations will be pursued, public sector pay lowered and early retirement phased out. How could the man elected on the basis of ending austerity and tearing up the hated bailout have just applied for a third loan and signed off on some of the most austere measures in months?