ΔΥΟ ΕΡΩΤΗΜΑΤΑ 1. ΘΑ ΠΡΟΚΑΝΟΥΜΕ? 2. ΝΑΙ , ΟΧΙ, ή ΜΠΑΥ ΜΠΑΥ?

Stunde Null in Athen..Handelsblatt
Le Monde..
Financial Times..
N.Y.Times..
ΤΟ ΒΗΜΑ..
ΚΑΘΗΜΕΡΙΝΗ..

• Referendum is on front pages worldwide.  Coverage is lengthy and analytical and ranges from the more upbeat wait-and-see [NYT] to the sharply pessimistic. [GRDN, RTRS] While it is too early to pinpoint a media consensus, initial reactions suggest the following:

• The primary concern in the foreign press is over two months of uncertainty: in Greece, in Europe and around the world. The relatively stable footing granted by last Wednesday’s decisions no longer seems stable to many, and commentators are fumbling for a new foothold. Thus, there is – and will be for the near future - a negative element of ‘shock’ in coverage, as media adjust to new crisis parameters. [WSJ]

• Markets fall ‘sharply’ in US and Asia after announcement. [NYT] European shares ‘dive’ this morning. [BBC]

• However - in coverage and conversation - commentators have flagged what they see as several positive elements in referendum, scripting significant upside potential for sentiment. That being said, given a fog of uncertainty, media are often unable to see the forest for the trees. This should improve rapidly as further specifics are provided.

• An FTD commentary speaks of a highly risky, but also ‘beneficial and intelligent’ undertaking, notes ‘if his country follows [Papandreou] on that and agrees with the austerity measures, that would have a healing radiant power for the rest of Europe. It would be a heroic moment, a historic Hellenic moment.’

• Many cautiously welcome the ‘outbreak of democratic spirit.’ [GRDN]

• BBC’s Hewitt concludes ‘There will be people who will argue that democracy has once again got in the way of securing a lasting deal to the eurozone debt crisis. But, in the end, the austerity package in exchange for a new bailout could not just be forced on the Greek people. It will have to be argued for.’

• Re-Define’s Kapoor says ‘The decision is good for democracy but is likely to make the euro crisis worse by heightening uncertainty in this very fragile environment.’ [FT]

• Move said to strengthen Greece’s hand in European negotiations. [NYT]

• BBC’s Hewitt writes ‘The Greek government has become adept at playing Europe's leaders.’

• Media note that referendum could ‘deflate’ protests and anger. [WSJ]

• Media and analysts have mixed forecasts for outcome of referendum. While the lingering presence of Vima poll is currently tipping many off the fence towards a negative outlook [RTRS, BBC], a small but important majority still see a successful outcome – pending a well framed question. [NYT]