I've read that Tsipras believes that the referendum vote will help him make a better deal, but I can't figure out why he would have more leverage.
The way I see it, the Greeks have voted that they don't want to pay back the loans; not a good tactic when you're trying to ask for another unsecured loan from the same bank.
What am I missing?
Prior to the referendum poll numbers were saying the exact opposite of what the election results came out to be. The EU thought they could scare Greek pensioners and gov workers into submission, but apparently that's not the case. Tsipras still wants a deal though, just one with less onerous terms. An outright Greek default on the debt would be very damaging to the EU financial system, so this game of chicken will continue, only now with Tsipras in a somewhat stronger position.
When you have to borrow money even to make the interest payment on your loans... well... you’re... uh... up a creek?