The striking outcome of this Sunday’s Greek referendum is that the collective attitude departed so decisively from common sense. The question on the ballot was convoluted, but the voters were well-informed about the EU’s demands. Having spent a week lining up at ATMs, Greeks grasped the reality of the coming bankruptcy—and yet, they chose to reject the clear demands of their creditors.
One important part of the explanation for an apparently self-punishing choice is Russia. Many Greeks see Russia as a state that upholds its sovereignty and defies the EU diktat. This rosy view—centered on the idea of dignity—conveniently overlooks Russia’s …read more
Source: Brookings