Photo: BBC.com
The European Union (EU) leaders have warned Greeks that rejecting creditors’ proposals in a snap referendum called for Sunday would mean ‘leaving the euro.’
German Vice Chancellor Sigmar Gabriel stated that the vote would be “yes or no to the eurozone”. Greek Prime Minister Alexis Tsipras has firmly urged for a no vote but insists he wants his nation to stay in the euro. Talks between Greece and its creditors had broken down around last week, leading to Greek banks having to shut this week. Global stock markets, too, fell down ‘sharply’ on Monday. His Italian counterpart Prime Minister Matteo Renzi stated that the choice would be between the euro and the drachma, while the French President Francois Hollande remarked “what’s at stake is… knowing whether the Greeks want to stay within the eurozone”.
Speaking to Greek television on Monday evening, Tsipras urged as many Greeks to vote “no” as possible on Sunday to give his government a stronger position to restart negotiations. He said his government had a mandate “to be within the European framework but with more justice”. “They will not kick us out of the eurozone because the cost is immense,” he further said. Tsipras hinted strongly that he would resign if the result of the referendum was a “yes” vote
“If the Greek people want to proceed with austerity plans in perpetuity, which will leave us unable to lift our head… we will respect it, but we will not be the ones to carry it out,” he remarked.
The UK’s Chancellor of the Exchequer, George Osborne, said a Greek exit would be “traumatic” and Britain should not underestimate the knock-on effects, even though it was outside the single currency. He said UK retirees who live in Greece would continue to receive their pensions, but advised British holidaymakers to take more euros than usual.
Tags: Greece Greece crisis
