Saturday, July 11, 2020

Its “No” Vote projected to win in Greece

Greece’s interior ministry has released an official projection, showing that the no side is set to win by 61%. That is a landslide result for the government, which had urged people to reject the bailout proposals made by lenders. Investors simply didn’t expect such a decisive win by the no side, so there could be dramatic moves in tomorrow’s financial markets. The London stock market is expected to fall sharply tomorrow morning, as investors brace for further turbulence in the eurozone. Meanwhile heads may soon be rolling in the opposition camp where there are growing demands for Antonis Samaras, the main opposition leader and former prime minister to step down as head of the centre-right New Democracy party, following the apparent victory of the no vote. In a midst of uncertainity that may lie ahead, one of Greece’s negotiators, Euclid Tsakalotos, is predicting that the government will be able to reach an agreement with creditors very quickly. We report as it happens and live….

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