The working class based victory for the "No", with more than 60% is a revolutionary event. The people have given a mandate for revolutionary resistance and against Memorandum agreements. It's time for the nationalization of banks, repudiation of the debt and the overthrow of Memoranda and barbaric capitalism which spawned them.

The Greek crisis is approaching a denouement. This marks a turning point for the working class of Greece and the whole of Europe. Last January Greece voted for a government that promised to end the austerity policies that have ruined the country. The election of Syriza gave hope to many people throughout Europe. But precisely for this reason, the political leaders in Brussels and Berlin decided to crush the new government, to humiliate it, to sabotage it and finally to bring about its overthrow.

As Adam Booth explains in this article, serious bourgeois economists can see a new world economic slump coming, which they have no way of averting, having already used all the traditional measures they would have adopted in the past, lowering interest rates, credit, etc. In these conditions any important event, such as a Greek default or a dramatic turn of events in the Middle East, can trigger an unravelling of all the pent up contradictions.

The latest provocative demands and ultimatums placed by the troika on the Greek government have one clear aim: to destroy it. They cannot be interpreted in any other way and all the pieces of the puzzle are now falling together.

At the last minute, when it seemed that a break was inevitable, the Greek government made a new proposal which included substantial additional concessions to the demands of Europe’s bankers and capitalists. It is not only that the Syriza government has been forced to abandon substantial points of its own election program, but even the famous “red lines” have been crossed.

The Battle of Waterloo - 200 years ago, on 18th June 1815 - was the last great event that marked the end of that great historical process that was begun in 1789 by the Great French Revolution. With the defeat of Napoleon, the last flickering embers of the fires lit by revolutionary France were extinguished. A long, grey period settled down on Europe like a thick coat of suffocating dust. The forces of triumphant reaction seemed firmly in the saddle.