In a result which was never really in any doubt, the Greek electorate yesterday delivered an emphatic ochí - and that, folks, means no - to the latest bailout plan for the country. The referendum result rejected that plan by a 61.3% to 38.7% margin. What this means is being hotly debated: some voices claim Greece is on its way out of the Eurozone, while others suggest the result will mean a deal on the country’s debts will come sooner.
What might focus everyone’s minds as the Eurozone’s finance ministers come together this week is that the single currency is under pressure: Sterling is buying €1.40 today for the first time in around eight years - that is, before the financial turmoil that came out of the USA. There is talk of the Euro reaching parity with the US Dollar, which may please German car manufacturers, but the effect on imports would not be good.
[UPDATE 1135 hours: Alex Andreou has informed me that, contrary to the suggestion at the opening of the first paragraph, the referendum result was in some doubt, with the general consensus being that there would actually be a narrow "Yes" result.
One factor Alex cites is media coverage: this is another facet of the contest that does not get accurately relayed back by our own coverage. The conventional media wisdom was to accept the latest bailout terms.
I'm happy to put his assessment on record]