A few hours ago, in a televised address to the nation, the Greek PM Tsipras has announced that he will put the latest ultimatum from the troika to a referendum on July 5. This marks a qualitatively new stage in the Greek crisis, one which can unleash the accumulated anger of the masses against the constant humiliation at the hands of the troika. 

The latest provocative demands and ultimatums placed by the troika on the Greek government have one clear aim: to destroy it. They cannot be interpreted in any other way and all the pieces of the puzzle are now falling together.

Thousands of workers, pensioners, self-employed, and youth took part in the demonstration at the centre of Athens that the Communist Party trade union front PAME organised and which was accompanied by a march to the Maximus Mansion (i.e., prime ministerial residence) thus expressing their opposition to the looming ‘Memorandum’.

At the last minute, when it seemed that a break was inevitable, the Greek government made a new proposal which included substantial additional concessions to the demands of Europe’s bankers and capitalists. It is not only that the Syriza government has been forced to abandon substantial points of its own election program, but even the famous “red lines” have been crossed.

The protracted negotiations between Greece and the troika which started after the election of Syriza on January 25 this year seem to have reached a dead end to which there seems to be no negotiated solution. This perception has accelerated the withdrawal of deposits from the banks which in turn brings the outcome closer. The troika is tightening the noose and unless the victim manages to break free it will choke.

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