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Greece’s Turn to Resist a Referendum

Mohamed A. El-Erian, (2015),  “Greece’s Turn to Resist a Referendum”, BloombergView, 18 May.

In 2011, overwhelming opposition from Greece’s European partners forced Prime Minister George Papandreou to withdraw a proposal for a referendum seeking a “clear mandate” from voters to carry out European Union-backed policies. Last week, the opposite scenario unfolded: Germany suggested that the Greek government hold a plebiscite on whether to accept creditors’ demands for economic reforms or ultimately leave the euro zone. This time, however, it was Greece that demurred.

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