It is now clear that Greek people are rejecting policies against which European Socialists and Democrats have been fighting for years: abrupt fiscal consolidation combined with sharp labour cost cuts, leading to large-scale unemployment and poverty. They are also rejecting that the default solution for addressing Eurozone imbalances should be internal devaluation imposed by an unaccountable "Troika" (EC-ECB-IMF) in exchange for bailout disbursements.

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