Tsipras’s choice

Prime Minister Alexis Tsipras scored a major victory in Sunday’s referendum.

The Greek premier clearly yields tremendous political power at this point.

Tsipras could use his victory and power in one of two ways. On the one hand, he could reach a deal with the country’s international creditors swiftly, a move which would allow the country to return to normal and in doing so to avoid disaster.

This will not prove to be an easy task given that trust between the Greek government and the Europeans has been seriously eroded.

The momentum generated following the announcement of yesterday’s referendum result also led the coalition’s most extreme voices to come forward.

It would prove particularly difficult for the premier to persuade the “no” voters to accept any kind of deal.

The prime minister’s second option is to continue on the path which would lead the country to a rift with the eurozone – a road which would very soon lead to the drachma. This is something which could materialize if a deal is not reached this week.

The Greek people on Sunday gave Tsipras a clear victory. It remains to be seen in what way the prime minister will use it.