Greeks vote to reject Eurozone bailouts conditioned on austerity measures
The polls closed in Greece (at noon EST) with various Greek television stations projecting “No” to be the winner. The referendum asks voters to approve (Yes) or to disapprove (No) of tough austerity measures that the European Central Bank (ECB) and the International Monetary Fund (IMF) are requiring the Greek government to impose on its citizens as a condition of receiving additional bailout money. The government is recommending a “No” vote. All Greek citizens are required by law to vote, although that law has not been enforced for many years.
A majority of Greek citizens have decided that the austerity demanded by the money lenders is just another word for debt slavery that they are no longer willing to accept. I support the “No” vote because I am opposed to idea of central bankers conditioning loans on the elimination safety nets that consist of financial assistance programs that protect those who are least able to survive financial disadvantage; namely, the unemployed, the poor, the mentally ill and the marginalized.
The central bankers support neoliberal economic theory that promotes balancing budgets on the backs of the poor, a policy that I despise and repudiate. The “No” vote probably will result in Greece getting kicked out of the Eurozone.