#SluggerReport: Greece votes No (but does anyone here know what that means?)

Today, there was only one topic worth tackling. The result of yesterday’s Greek Referendum. Key reference today is Pete’s post from early 2011: “When it becomes serious, you have to lie.”?

The #SluggerReport goes out on Periscope live 10am with a edited podcast appearing on Slugger’s audioBoo page later.

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  • smcgiff

    The Greek people have spoken.
    The Irish, German etc. people should also have a referendum. In Ireland it should read along the lines of:-
    “As Greece is unlikely to repay what has currently been loaned to them by the Irish government. Should Ireland loan Greece another Billion Euro?”
    I’m pretty sure the Irish electorate would vote NAI

  • Barneyt

    The removal of the finance minister in advance of desperate talks or talks of desperation tends to suggest that was to make the discussion less turbulent. This indicates they would prefer to remain in the union and currency surely.

    There has to be a write down of their debts if the zone is not going to have its first casualty. I don’t know how to read the less severe reaction from the global markets given the level of exposure said to be out there however, they must be reasonably sure that Greece will be maintained somehow?

    If something is offered to Greece, those that pull the financial strings should be able to field off demands from the likes of Ireland, given that Greece is perilously an exception, however any serious write-down or write off will give impetus to the would-be bond holder burners.

    Whatever happens with Greece, its going to be long long winter of discontent. Gut says, take the pill now and something may be salvaged down the road as an independent country with a restored Drachma. I believe they will have to exit the currency AND the EU to get anything close to a fresh start and stand a chance of regenerating something close to national pride and some level of sustenance.

  • james

    What would all the little countries do without the Economic might of Ireland?

  • murdockp

    ireland has more friends that you think. Ireland reminds me of Israel without the big army. small state punching well above its weight in the world. don’t knock it GDP per capita is higher than the UK

  • kensei

    It means Greece as a population is exhausted with present policy. If you mean what happens next, who knows.

    I still think the outcome is more important for the next crisis than this one, unless the markets go into a tizzy whatever happens can probably be contained. But if Greece gets a haircut, it’ll be a precedent for the next crisis, if Greece leaves it’ll be a precedent for the next Greece and if the can is kicked down the road then it is the next crisis. There also has to be some recognition that institutions as presently constituted do not function.

  • kensei
  • Kevin Breslin

    Just on a side note, that middle letter in the word “Oxi” (sic) or rather όχι It’s a Greek chi not a Latin “X”, the word should sound like Awchey than Ox-ee .

  • Ben De Hellenbacque

    Why on earth have you posted this? You have stated a unequivocal fallacy. Oxymoron is a transliteration of οξυμωροs whose 2nd letter is ksi not chi. Ksi is pronounced like the latin letter x not like ‘ch’ as in loch. It is a compound word whose 1st component is οξυς formerly pronounced oxys (not oxi) or oxus in modern Greek and means sharp.
    In any case smcgiff’s post does not come close to applying oxymoron in its true meaning. Οξυμωρος does not mean paradox nor does it mean hypocrites. The latter would be the appropriate word to express his assumed intention.

  • Kevin Breslin

    What have I said that is false here?
    The middle letter in the WORD όχι (not the Prefiix Oxy- in Oxymoron) IS a Chi not a Ksi. The Key thing here is that there is a PUN in the term so that those who voted No (or όχι in Greek) were Morons.

    However, όχι has nothing to do with Oxymoron or οξυμωροs, what is the case is that word for No would sound nothing like the Prefix Oxy in the word Oxymoron, or even Oxy or Oxys or Oxus so the pun Oxi-morons would be phonetically wrong though it may itself be oxymoronic by self-reference.

  • Ben De Hellenbacque

    I stand corrected. Egg on my face for not getting the sophisticated play on words and your playfully abstruse hint of it. I apologise for the absence of diacritics which you included. I bow to your greater command of linguistics. That’ll learn me.

  • james

    So who do unionists remind you of? Palestinians?

  • Ben De Hellenbacque

    And now that the chickens have come home to roost, these institutions appear to have been set up to fail or at least only function in a best case scenario. This can be said with the exasperating luxury of hindsight but still shows the absence of foresight in implementation back in the Jacques Delors days. Geopolitics and the world economy have changed quite considerably since then.
    Mick’s piece exposes the differences in approach and thinking that persist in this concentrated little corner of the globe. Accretions of differing traditions, varying religio/philosophical outlooks, differing core values, dissimilar purposes and understanding all form the opposing instincts that Mick refers to. It is on these habits that economies are based. But this diversity should not necessarily produce the seemingly irreconcilable differences of now. Cameron’s ‘we’re sitting pretty’ lack of intervention doesn’t look like traditional British fair play but the UK has never shown its customary clubability in this membership. Many players including Juncker look like they’re making it up as they go along but then the powerful ones can, particularly when their survival is threatened. But wasn’t it always thus?
    Monetary union without economic or even fiscal union always looked like it would be held together on hope alone. Like Pandora’s gift, is hope all that Greece has got left? The Greeks are certainly determined to hold on to their remaining dignity thereby exposing the shoddy construction of the edifice.

  • Zig70

    In a lot of ways the crisis is Ireland’s fault. If it didn’t roll over so readily and foist private bank debt in its citizens then the negotiations may have had room to move. I’d put my money on Greece getting some debt restructuring and Ireland being told to suck it up again in return for a prefect badge.

  • Mister_Joe

    That comment is worth an award for something and not something nice.

  • mickfealty

    Always be careful taking on a physicist (I admit to having to no clue as to what just happen btw)…

  • mickfealty

    Subject please?

  • mickfealty

    Just putting this here Seamus, which I think is relevant to your point (http://goo.gl/dPAa6q)

    “They just didn’t want us to sign. They had already decided to push us out,” said the now-departed finance minister Yanis Varoufakis.

    So Syriza called the referendum. To their consternation, they won, igniting the great Greek revolt of 2015, the moment when the people finally issued a primal scream, daubed their war paint, and formed the hoplite phalanx.

    Mr Tsipras is now trapped by his success. “The referendum has its own dynamic. People will revolt if he comes back from Brussels with a shoddy compromise,” said Costas Lapavitsas, a Syriza MP.

    “Tsipras doesn’t want to take the path of Grexit, but I think he realizes that this is now what lies straight ahead of him,” he said.

  • james

    I don’t think it means an awful lot, to be honest. Just another painful step in the long, inevitable withdrawal of Greece. For the good of everybody, particularly the Greeks, it were better to have happened several years back. I imagine they will be needing a lot of aid and the whole thing is sad and messy.

  • murdockp

    neither. they remind me of unionists. the idea that loyalists have something in common with Israelis is bonkers.

  • james

    I dunno. I’d say there are a fair few similarities. Why do you think it’s bonkers?