gennaro pinto
VictoriaConcordiaCrescit
BREAKINGVIEWS-Hugo Dixon: Greece could do with a new referendum - RTRS
10-Jul-2015 16:22:33
(The author is a Reuters Breakingviews guest columnist. The
opinions expressed are his own.)
By Hugo Dixon
LONDON, July 10 (Reuters Breakingviews) - Given the havoc
caused by Greece's first referendum, it might seem crazy to
advocate a second one. But if Alexis Tsipras this time
campaigned for "Yes" and the people took the Greek prime
minister's advice, a second vote would help resolve the main
conundrum bedeviling talks between Athens and its creditors: how
to restore trust. It would also give democratic legitimacy for
the U-turn Tsipras is performing.
The euro zone rightly has little confidence in Tsipras'
ability to implement any agreement they reach. His own radical
left Syriza party may split because many of its members of
parliament won't approve of the reforms and austerity outlined
in Greece’s latest proposal on July 9. Even though Tsipras will
probably get backing from pro-European opposition parties, he
will find it hard to implement tough measures. He will be
vulnerable to the accusation that he has gone against the wishes
of the people who voted "No" in favour of a deal that is likely
to be extremely similar to anything he now agrees.
Knowing this, some creditor countries such as Germany could
refuse to do a deal. They will wonder why they should lend
perhaps 80 billion euros to a man they don't trust.
If Tsipras proposed a second referendum and the people voted
emphatically for "Yes", these concerns would be eased. There
could also be a clear question on a proposal that was still on
the table and a minimum two-week campaign, rather than Sunday's
rushed plebiscite on a confused question about an offer that no
longer existed.
The creditors would have to be keen on this idea and lend
Athens enough bridge money to avoid defaulting on 3.5 billion
euros it owes the European Central Bank on July 20. The ECB
itself would have to agree to provide some liquidity to Greek
banks to keep them ticking over. To further restore trust, the
Greek parliament could approve the plan conditional on a “Yes”
vote.
If the creditors provide such help and the Greeks still vote
"No", they will lose some extra money in the short run. But in
that case there would be no chance of a successful
implementation anyway. On the other hand, if the people vote
"Yes", Greece's chances of ultimately getting out of the woods
will increase markedly.
<^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^
SIGN UP FOR BREAKINGVIEWS EMAIL ALERTS:
Reuters Breakingviews Registration
^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^>
CONTEXT NEWS
- Greek Prime Minister Alexis Tsipras appealed to his
party's lawmakers on July 10 to back a tough reform package
after abruptly offering last-minute concessions to try to save
the country from financial meltdown.
- Reuters: Greek PM Tsipras seeks party backing after abrupt
concessions [ID:nL8N0ZQ0G7]
- For previous columns by the author, Reuters customers can
click on [DIXON/]
(Editing by George Hay and Sarah Bailey)
(([email protected]))
((Reuters messaging:
[email protected]))
(On Twitter https://twitter.com/Hugodixon)
Keywords: EUROZONE GREECE/BREAKINGVIEWS
nL8N0ZQ375
(C) Thomson Reuters 2015. All rights reserved.The Thomson Reuters content received through this service is the intellectual property of Thomson Reuters or its third party suppliers. Republication or redistribution of content provided by Thomson Reuters is expressly prohibited without the prior written consent of Thomson Reuters, except where permitted by the terms of the relevant Thomson Reuters service agreement. Neither Thomson Reuters nor its third party suppliers shall be liable for any errors, omissions or delays in content, or for any actions taken in reliance thereon. Thomson Reuters and its logo are registered trademarks or trademarks of the Thomson Reuters group of companies around the world.
10-Jul-2015 16:22:33
(The author is a Reuters Breakingviews guest columnist. The
opinions expressed are his own.)
By Hugo Dixon
LONDON, July 10 (Reuters Breakingviews) - Given the havoc
caused by Greece's first referendum, it might seem crazy to
advocate a second one. But if Alexis Tsipras this time
campaigned for "Yes" and the people took the Greek prime
minister's advice, a second vote would help resolve the main
conundrum bedeviling talks between Athens and its creditors: how
to restore trust. It would also give democratic legitimacy for
the U-turn Tsipras is performing.
The euro zone rightly has little confidence in Tsipras'
ability to implement any agreement they reach. His own radical
left Syriza party may split because many of its members of
parliament won't approve of the reforms and austerity outlined
in Greece’s latest proposal on July 9. Even though Tsipras will
probably get backing from pro-European opposition parties, he
will find it hard to implement tough measures. He will be
vulnerable to the accusation that he has gone against the wishes
of the people who voted "No" in favour of a deal that is likely
to be extremely similar to anything he now agrees.
Knowing this, some creditor countries such as Germany could
refuse to do a deal. They will wonder why they should lend
perhaps 80 billion euros to a man they don't trust.
If Tsipras proposed a second referendum and the people voted
emphatically for "Yes", these concerns would be eased. There
could also be a clear question on a proposal that was still on
the table and a minimum two-week campaign, rather than Sunday's
rushed plebiscite on a confused question about an offer that no
longer existed.
The creditors would have to be keen on this idea and lend
Athens enough bridge money to avoid defaulting on 3.5 billion
euros it owes the European Central Bank on July 20. The ECB
itself would have to agree to provide some liquidity to Greek
banks to keep them ticking over. To further restore trust, the
Greek parliament could approve the plan conditional on a “Yes”
vote.
If the creditors provide such help and the Greeks still vote
"No", they will lose some extra money in the short run. But in
that case there would be no chance of a successful
implementation anyway. On the other hand, if the people vote
"Yes", Greece's chances of ultimately getting out of the woods
will increase markedly.
<^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^
SIGN UP FOR BREAKINGVIEWS EMAIL ALERTS:
Reuters Breakingviews Registration
^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^>
CONTEXT NEWS
- Greek Prime Minister Alexis Tsipras appealed to his
party's lawmakers on July 10 to back a tough reform package
after abruptly offering last-minute concessions to try to save
the country from financial meltdown.
- Reuters: Greek PM Tsipras seeks party backing after abrupt
concessions [ID:nL8N0ZQ0G7]
- For previous columns by the author, Reuters customers can
click on [DIXON/]
(Editing by George Hay and Sarah Bailey)
(([email protected]))
((Reuters messaging:
[email protected]))
(On Twitter https://twitter.com/Hugodixon)
Keywords: EUROZONE GREECE/BREAKINGVIEWS
nL8N0ZQ375
(C) Thomson Reuters 2015. All rights reserved.The Thomson Reuters content received through this service is the intellectual property of Thomson Reuters or its third party suppliers. Republication or redistribution of content provided by Thomson Reuters is expressly prohibited without the prior written consent of Thomson Reuters, except where permitted by the terms of the relevant Thomson Reuters service agreement. Neither Thomson Reuters nor its third party suppliers shall be liable for any errors, omissions or delays in content, or for any actions taken in reliance thereon. Thomson Reuters and its logo are registered trademarks or trademarks of the Thomson Reuters group of companies around the world.
vedrò se puntare qualcosa su NBG-A e sull'Etf quotato su Borsaitaliana.
