However, leftist Prime Minister Alexis Tsipras has pledged to secure a deal by Tuesday on better terms to unlock further vital funding for the country to stay afloat and in the eurozone.
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In Sunday’s plebiscite, voters, who had been asked whether to accept or reject the austerity measures demanded by lenders in return for rescue loans, delivered a resounding 61-percent strong “No” vote.
However, for opposition French presidential hopeful, Alain Juppe, the European Union should organize Greece’s exit from the eurozone “without any drama”. He also pledged to help the left-wing Greek government to alleviate the country’s debt burden without giving accurate proposals. In recent days, France has established itself as Greece’s leading advocate and has advised Athens on the content of the proposal.
He said no solution could be found until German Chancellor Angela Merkel holds talks with French President Francois Hollande at a dinner meeting in Paris Monday night.
According to Valls, the ball is now in Greece’s court to propose new offers in a bid to reach “an agreement necessary first for Greece because its exit from the eurozone would plunge the Greek people into an intolerable situation”.
It’s hard to see European equities doing anything but falling on news of the decisive “no” vote in Greece, which is likely to lead to a rise in risk aversion, said HSBC. “”No” makes this more hard, need to work responsibly”, he added in another tweet.
The head of the French central bank is a member of the European Central Bank (ECB)’s decision-making governing council.
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The Eurogroup is set to meet in Brussels on Tuesday to discuss Greece.
