The people do not want to tighten their belts. Voters rejected painful reforms in yesterday’s referendum — 61 percent voted “No” — just days after Athens defaulted on its $1.7 billion IMF loan payment. Finance Minister Yanis Varoufakis, who has burned bridges with his confrontational style, resigned today in a bid to help Prime Minister Alexis Tsipras secure an agreement with European leaders. Europe must now decide which is worse: saving Greece or bidding it farewell. Meanwhile, the euro is down in early trading and world markets are plunging in anticipation.
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