The No vote to austerity by a margin of 62 to 38 is a stunning vindication of Greek Prime Minister Alexis Tsiprass tactical gamble and political savvy. However, the Greeks and the austerity-mongers, most notably in Germany, remain as far apart as ever.The press and the European financial elite played Tsiprass surprise referendum as reckless and suicidal. Much of the E.U. establishment was savoring a Yes vote, a Tsipras resignation, and a new center-right unity government as enablers of austerity. But Tsipras demonstrated that he has a far surer grasp of his own people than the Berlin-Brussels echo chamber.The elite press has tended to play this tragedy as a case of Greek self-destruction. The larger story, in truth, is the self-destruction of the European Union.In the short run, the Greek No vote has smoked out the true goals of the worst of the austerity faction such as German Finance Minister Wolfgang Schäuble — to force Greece out of the Eurozone. Schauble, abetted by much of the financial press, tried to redefine the referendum as a vote on whether Greece should keep the euro.
via Just Say No | Robert Kuttner.