American economist Paul Krugman has commented on the outcome of the referendum in Greece, stressing that the government has “won big in the referendum, strengthening their hand for whatever comes next”, while noting that the result will also benefit Europe.
In his blog post, the economist argues that the referendum result demonstrated how Greece stood up to a “truly vile campaign of bullying and intimidation”, which he opined was a “shameful moment in modern European history, and would have set a truly ugly precedent if it had succeeded”.
He concluded his comments by estimating that there is a “pretty good case for Grexit now” and that “democracy matters more than any currency arrangement”.