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Greek government‘may resign’ if it loses referendum…
Greece Government
Capture Audience Attention Greece’s radical left government said on Thursday it may resign if it fails to win a referendum that could decide the
country’s financial future. Greek Finance Minister Yanis Varoufakis said the government “may very well” quit if the public went against it in Sunday’s plebiscite and voted for more austerity in return
for international bailout funds.
“We are on a war footing” to ensure the rushed referendum happens on time, Varoufakis added in the radio interview. The world’s
financial markets and Greece’s creditors —— the European Commission, European Central Bank (ECB) and International Monetary Fund
(IMF) —— are stepping back after days of dizzying drama to watch the outcome.
Greece Government
“We are on a war footing” to ensure the rushed referendum happens ontime, Varoufakis added in the radio interview. The world’s financial markets and Greece’s creditors — the European Commission, European Central Bank (ECB)
and International Monetary Fund (IMF) are stepping back after days of dizzying drama to watch the
outcome.But European chiefs warned the situation was deteriorating
and what could emerge after the vote remained unclear. “The situation is only getting worse, due to the Greek
government’s behaviour,” said Jeroen Dijsselbloem, Dutch finance minister and head of the Eurogroup of eurozone finance ministers. “In case of a ‘No’, Greece’s situation
will become exceptionally difficult,” he told Dutch lawmakers. Such a result would plunge Greece and the
eurozone “into the unknown,” French President Francois Hollande said on an African visit.
Greece Government
Ordinary Greeks are divided over which way to vote and even what the referendum is about. Would a ‘No’ sought by the government
prevent yet more grinding austerity? Or, as EU leaders warn, would it send the country crashing
out of the euro? The Greek government led by Prime Minister Alexis Tsipras believes rejecting
the bailout conditions would strengthen its hand in negotiations
with creditors. Orange posters urging a ‘No’ vote line Athens streets, the word ‘OXI’ (no in
Greek) stamped in large black letters.
Greece Government
But support for the ‘No’ camp has sharply slid this week as Greeks struggled under capital controls
reducing ATM withdrawals to 60 euros (USD 67) a day. The government’s
failure on Tuesday to make a 1.5-billion euro loan repayment to the IMF has also focused minds. Athens is now in
danger of failing in arrears to the ECB if it also fails to pay 3.5 billion euros on
July 20. “I was going to vote ‘No’ because I think the Greek people are
being treated with contempt. But Tsipras has made the situation so much
worse, it’s his fault the banks are closed,” said shop assistant Suzanna
Alizoti.
Greece Government
