When is a ‘No’ really a ‘Yes’? Why the referendum result could help Greece secure a deal

Greece is expected to present new proposals aimed at reaching a deal with its creditors following the ‘No’ vote in the country’s referendum. Writing from Greece, Michael Cox notes that although there is still substantial uncertainty over what the result of the referendum means in practice, the solid backing Greek Prime Minister Alexis Tsipras received in the vote has secured his domestic support base, ensuring that he has never been in a better position to implement a deal. However he notes that with the country’s banks fast running out of financing, the next few days should prove decisive in shaping the outcome of the crisis.