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‘Europe Won’t Let Athens Go Under’

By Editorial board
05 July 2015   |   3:47 am
Greece’s finance minister accused creditors of trying to “terrorize” Greeks into accepting austerity, warning Europe stood to lose as much as Athens if the country is forced from the euro after a referendum on bailout terms holding today. After a week in which Greece defaulted, shuttered its banks and began rationing cash, Greeks vote today…

contin_europeGreece’s finance minister accused creditors of trying to “terrorize” Greeks into accepting austerity, warning Europe stood to lose as much as Athens if the country is forced from the euro after a referendum on bailout terms holding today.

After a week in which Greece defaulted, shuttered its banks and began rationing cash, Greeks vote today (Sunday) on whether to accept or reject tough conditions sought by international creditors to extend a lending lifeline that has kept the debt-stricken country afloat.

The left-wing government is urging a “No” vote, saying Greece’s European partners are bluffing when they warn that would mean a Greek departure from Europe’s single currency, with unforeseeable consequences for Greece, Europe and the global economy.

Opinion polls on Friday gave the “Yes” camp, which favors accepting the bailout terms, a slender lead but all were within the margin of error and pollsters said the vote was too close to call.

Only one had the “No” vote winning, despite turnout of at least 50,000 opponents of the deal at a rally in central Athens on Friday that appeared significantly bigger than a simultaneous rally by the “Yes” camp.

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