It is entirely unclear at this moment whether Tsipras will get the money he seeks, or even whether his country has a future in the euro zone. He sprung on the Greek people a referendum on whether to accept the terms of an offer that had expired. European leaders cast the vote as a plebiscite on whether Greece would continue to use the euro. Tsipras rejected that interpretation, saying a “No” would give him a stronger hand in negotiations. More than 60% of voters decided to back their prime minister.
The fatalists were out in force Monday. Economists at Morgan Stanley, an investment bank, said they now were working on the expectation that Greece will exit the eurozone.