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How Alexis Tsipras’s Greek Referendum Call Came After Creditors Covered His Proposals in Red Ink
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Stamouli and Walker of WSJ describe the last days of negotiations in June before Greece pulled out its negotiating team, and German chancellor Merkel decided to call off the bailout of Greece. The impasse was over pension cuts and vaue added taxes, yet the negotiations were still going over details when Tsipras pulled out Greece's negotiating team with the surprise announcement of a referendum on July 5, 2015. By saying the Syriza party would call for a "no" vote Tsipras alienated public opinion in Germany. Chancellor Merkel seeing the shift in domestic opinion favoring Greece's exit from the euro during the tense months of negotiations with the Syriza government and acrimonious charges, moved to call off a continued EU bailout of Greece.
Alexis Tsipras of the Coalition of the Radical Left in Greece's parliamentary elections of Jan. 25, 2015
01/28/2013
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The new government as three professors at the finance ministry, the Economics superministry which includes tourism, marine and transport, and the Foreign ministry. Varoufakis is a professor at the University of Texas who was asked by Tsipras to return to Greece in 2014 to run for parliament in the upcoming election. This shows a growing influence of academics and professors in Greece's government as the politicians are seen to have failed badly. Yannis Stournaras the finance minister in the Samaras government in 2012-2014, was a professor of macroeconomics at the University of Athens.
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How Tsipras reached his decision to call for a referendum, and the call for a "'no" vote that has damaged relations with the EU in June 2015
01/28/2013
During the last minute negotiations Tsipras veered from one side to the other. Initially he moved closer to Syriza party leaders who favored an accomodation with the IMF and EU, yet with each rejection of Greece's proposals he moved closer to the confrontational postiion of finance minister Varoufakis. The IMF and EU negotiators considered higher taxes on business in the Greek proposals hurting long term growth, and insisted on pension cuts. Greece's negotiating team was still negotiating over details when Tsipras called off talks and surprised European leaders with his call for a referendum. His announcement that Syriza would call for a no was badly received by EU leaders and Merkel, leading to a breakdown in trust. The inexperience of 40 year old Tsipras and the faculty professor Varoufakis's lack of experience with negotiations, may now have damaged relations between Greece and Germany. The reaction in Germany to this is that now a majority of Germans see Greece's exit from the eurozone as the best option, and the goodwill of leaders in France, Italy and Spain may have been lost.
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How Alexis Tsipras’s Greek Referendum Call Came After Creditors Covered His Proposals in Red Ink
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Greece’s Future, and the Euro’s
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The breakdown in negotiations between the EU finance ministers and Greece by June 27, 2015, and Tsipras's call for a referendum July 5 on the bailout
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How Alexis Tsipras’s Greek Referendum Call Came After Creditors Covered His Proposals in Red Ink
Wall Street Journal 06/29/2015
Greece Will Shut Banks in Fallout From Debt Crisis
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Wall Street Journal 06/30/2015
With Loan Deadline Looming, Europe Offers Greece a Last-Minute Deal
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Yanis Varoufakis, Greece's finance minister in the Syriza government of Alexis Tsipras
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Bailout Critic Yanis Varoufakis Named Greek Finance Minister
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A young, impatient leftist is Greece’s defiant new face - The Washington Post
Washington Post 01/27/2015
Tsipras Declares Creditors’ Debt Proposal for Greece ‘Absurd’
New York Times 06/05/2015
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