TheStreet’s Rhonda Schaffler sat down with Nick Burns, Harvard University professor and former United States ambassador to Greece, to speak about the current situation in Greece. Headlines on the subject of Greece and its impending debt financings have been changing almost hourly as the country gets dangerously close to defaulting and potentially exiting the European Union. But with new proposals for the Greek budget and debt obligations on the table, Burns predicts that ‘we are likely to see negotiations after the referendum is held on July 5th.’ Burns says that if Greece votes no, then Alexis Tsipras, the current prime minister of Greece, ‘will go back to the European Union, the Central Bank, and the IMF and say, ‘I’ve got the support of the Greek people, negotiate with me!’ and think he will have a stronger position.’ Alternatively, if Greece were to vote yes, Burns says, ‘then Tsipras has to accept the bailout package the EU offered him, that he turned down last weekend.’ Burns argues that Tsipras views the referendum as ‘part of a negotiating strategy’ but that Tsipras has miscalculated how it will play out.
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