Bloomberg: Greece’s Tsipras Calls July 5 Referendum on Bailout Demands
Prime Minister Alexis Tsipras called a referendum on whether Greece should accept the demands of the country’s creditors, the most dramatic move yet in a debt crisis that started five years ago.
In a nationally televised address after midnight in Athens, Tsipras announced the July 5 vote and excoriated a take it-or-leave it offer as a violation of European Union rules and “common decency.” Deputy Foreign Minister Euclid Tsakalotos said the government has no plans to impose capital controls and banks will stay open on Monday.
WNU Editor: A rejection of the EU deal will mean default and bankruptcy followed by poverty for a very long time. Acceptance of the deal will mean poverty for a very long time. Either way .... the end result will mean more poverty for the average Greek citizen. My prediction is that since more and more Greeks are no longer caring about what their personal financial future will be .... especially since so many of them are in a dire situation right now .... they are going to reject the EU offer. What may change this result is if the case is made by the EU and others that this is the best offer on the table and rejection of it will mean being expelled from the EU and an immediate default followed by a collapse of state services. In short .... put the fear that the times may get even more worse if the Greek voters decide to vote against the EU. Either way .... we will know the result in one week.
More News On The Greek Debt Referendum Call
Greece's Tsipras calls referendum, top-level talks still on -- Reuters
Greeks face new uncertainty as vote called on bailout -- AP
Greek Prime Minister Calls for Referendum on Bailout Terms -- New York Times
Greece crisis: Tsipras calls referendum on ‘humiliating’ plan -- Irish Times
Greece Calls Referendum on Bailout Terms -- WSJ
Greece debt crisis: Tsipras announces bailout referendum -- BBC
Greece will hold a referendum on euro deal July 5 -- Fortune
Greece to hold July 5 referendum on bailout deal, radical left govt urges voters to reject it -- USA Today/AP
Greece debates referendum amid fears of run on banks -- AFP
Greece Divided on Bailout Referendum -- WSJ
Greece's bailout referendum risks exit from euro -- CNN
Greece Calls A Referendum Over Debt Deal; Will The EU Topple The Government Again? -- Tim Worstall, Forbes
1 comment:
Tsipras and his party only care about keeping power. That being said there is a very good chance he and Greece will win a short term victory. No one involved in this (with the exception of the German public) is taking a long term approach. It's a matter of whose bluffing the most, the EU or Greece. Tsipras has judged it to be the EU and he may quite well be right. My guess is that some "emergency" money will come from somewhere next week to tide Greece by, then a "kick the can down the road" agreement reached at the last moment.
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