THE ongoing Greek debt saga may yet take a surprising turn or two, but as it stands now, it appears the people of Greece have made a tremendous blunder that will have tragic consequences.
Most of the rest of the world has offered approval for the Greek voters’ rejection of further austerity in exchange for debt relief from the European Union. The vote on the referendum called by Prime Minister Alexis Tsipras after the most recent collapse of negotiations was seen as a triumph of democracy: Even though they may face hardships as a consequence, the people stood up to outside oppressors attempting to dictate how Greece manages its sovereign affairs.
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