In his piece on Thursday, Evans-Pritchard also details some of the struggles facing Greek companies that are having difficulty importing supplies and could close factories unless the situation turns around soon.
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If Greece votes “no” it would nearly certainly lead to its exit from the eurozone, the so-called “Grexit” scenario.
“I strongly doubt Europe will accept this proposal and if Europe sticks to its guns and waits for the referendum, the greater the chance that the government fails”, he said in a note.
“We don’t know how this government has performed. It’s up to the Greeks to respond”.
A strict limit on cash withdrawals has prevented savers taking out large sums of money, which means that the current level of liquidity, used to make such payouts, may now be just enough to see Greek banks through the week.
The Athens market, like the country’s banks, is closed this week. Is it because they want to get rid of us? “And I don’t know what to do on Sunday: vote “yes”, vote “no””. But about 1,000 bank branches were open to help pensioners cash about $130 from their retirement checks.
– Tsipras has indicated he is now ready to accept the terms he rejected late last week, with some exceptions.
But that particular proposal is no longer on the table.
Greece’s bailout deal with its global creditors also expired on Tuesday.
Greece is teetering on the brink of financial meltdown after becoming the first developed nation to default on an International Monetary Fund loan.
The country is now seeking a different deal with its European creditors. Such standards call for at least two weeks’ notice to allow for discussion, a clear question to be put to voters for consideration, and global observers invited to monitor the vote.
“That suggestion is simply wrong”, Dijsselbloem told lawmakers in the Netherlands.
Mr Renzi said he thinks a referendum is a “mistake” but that he respects the will of the Greek people. The Greek government says that argument is merely an attempt to terrorize the people into voting in favor of destructive austerity policies.
President Barack Obama and Italian Prime Minister Matteo Renzi are discussing ways to keep Greece in the eurozone. “But we will do this in the spirit of cooperation with whoever takes over from us”, he said. “I’m in total agreement with (banks) closing”. Tsipras has implied he could do the same.
– If Greece and the Eurogroup agree terms, the countries of the euro zone must approve lending which would be guaranteed by their own treasuries. “We want to be a part of a thriving community like Europe”, 22-year-old student Nikitias Papadopoulos said.
This vote, Jagland said, “has been called on such a short notice that this in itself is a major problem”.
The creditors and euro zone finance ministers responded in kind and announced that no more negotiations with Greece would be held ahead of the referendum.
“This is no basis for serious” negotiations, said Mr Schaeuble.
The official said nothing else was decided Wednesday amid speculation that authorities would move to seize Greek bank deposits to ease the country’s debt burden.
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Preparations are already underway for Sunday’s referendum, which could seal the country’s financial fate.
