That would bring new political turmoil to Greece… but it WOULD mean that talks over a new bailout could restart. That is unlikely to be agreed on overnight, meaning the banking restrictions on money withdrawals and transfers may remain in place for longer than anticipated.
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Greece’s creditors and most of the opposition parties have claimed that, on the contrary, it could lead to exit from the single market (“Grexit”) and even the European Union. “We vote “yes” to Greece“.
The latest polls before the voting began put the No vote just 0.5 per cent ahead of Yes. “I am very optimistic”, Tsipras said after voting in in Athens, surrounded by dozens of journalists.
Almost 9.9m Greeks will have the right to cast their vote in Sunday’s ballot, with a high percentage expected to attend the polling stations.
Greek Prime Minister Alexis Tsipras is gambling the future of his relatively young left-wing government on the snap poll, called last weekend.
Tuesday, June 30: Tsipras seeks a 30-billion-euro deal with the European Stability Mechanism (ESM) to cover state financing needs and restructure Greece’s crushing debt. But the country will not return to the drachma – Greece’s former currency – immediately.
Voters are asked to check one of two boxes: “not approved/no” and – below it – “approved/yes”.
Varoufakis this week blamed Greece’s creditors for forcing the banks to to shut just days before the vote. “I will serve this mandate”, he said.
Those in Greece are now facing a bewildering choice at an election where both options will see their day-to-day living worsen.
He said if the European Union wants to keep Greece in the eurozone, it will have to come up with “a very generous plan” since the cost of the crisis has shot up to unanticipated levels. The democratic will of the people of Europe must be accepted.
Varoufakis spoke as he voted along with his 90-year-old father Giorgos in the southern Athens suburb of Faliro.
(This corrects the spelling of Varoufakis’ first name to Yanis).
He said accepting the creditors’ terms would be a “permanent condemnation” while rejecting it would offer the “only prospect for recovery”. “That is certainly the case, but if they say “no” they will have to introduce another currency after the referendum because the euro is not available as a means of payment”, he said. The first document is titled “reforms for the completion of the current programme and beyond” and the second “Preliminary debt sustainability analysis”.
Addressing reporters after casting his vote, President Prokopis Pavlopoulos said: “Citizens are being called upon to decide as reported by their conscience, with national interest and future of their country in mind”.
He urged the Greek people to say “no” to the proposals.
“Today, democracy is defeating fear… The Europeans do not want to see anyone challenge their power as Tsipras did”.
He announced it a week ago in a bid to break a 5-month impasse with global creditors, insisting a “No” vote would force a restructuring of Greece’s massive debt and a softening of drastic austerity conditions. “I am sure that after tomorrow a way will be opened for a return to the founding values of Europe”.
The Greek referendum on whether or not to accept bailout demands by creditors is causing deep divisions, even among individual families. His daughter Alexandra is voting “no” because she is tired of richer European nations bossing Greece around.
(AP Photo/Thanassis Stavrakis). People arrive to vote at a polling station in Athens, Sunday, July 5, 2015.
Rallies have taken place across the United Kingdom over the issue, while British tourists travelling to the country have been advised to take cash with them and be wary of their personal safety.
A “yes” vote would enable the country’s leaders to negotiate a new bailout agreement. But that’s unlikely to happen unless the European Central Bank agrees to increase the credit to Greek banks.
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ATHENS: Greece’s finance minister accused creditors of trying to “terrorise” Greeks into accepting austerity, warning Europe stood to lose as much as Athens if the country is forced out of the euro after a referendum on Sunday on bailout terms.
