The Greek parliament has passed a bill, approving Prime
Minister Alexis Tsipras' motion to hold a referendum on the
international creditors' suggestions for reforms in return for loans.
Press TV: At least 179 out of a total of 300 lawmakers voted late on Saturday in favor of the referendum, scheduled to be held on July 5.
In a speech ahead of the vote, Tsipras said he was confident that "the Greek people will say an emphatic no to the ultimatum" by the country's lenders -- the European Central Bank, the European Commission, and the International Monetary Fund.
Earlier in the day, European Union finance ministers rejected an extension of the Greek bailout program, which expired on Tuesday, at a meeting in the EU’s de facto capital, Brussels, just hours after the Greek side declined the creditors’ latest offer.
On Friday, the troika of international lenders offered a €12-billion ($13.4-billion) extension of the current bailout deal to Athens provided that the cash-strapped country accepts the list of austerity reforms under a new accord between the two sides.
The offer was rejected by Greece, which called instead for the referendum to let the Greek people decide on the matter.
Following its 2009 economic crisis, Greece received two bailout packages in 2010 and 2012 worth a total of €240 billion ($272 billion) from its creditors in return for implementing harsh austerity measures.
According to the terms of the bailout deal, Greece should make a €1.6-billion ($1.79 billion) payment to the IMF at the end of this month.
There are fears that Greece may go bankrupt and have to leave the eurozone if a deal is not reached by the end of June.
Source
In a speech ahead of the vote, Tsipras said he was confident that "the Greek people will say an emphatic no to the ultimatum" by the country's lenders -- the European Central Bank, the European Commission, and the International Monetary Fund.
He also voiced confidence that "in the aftermath of this proud no, the negotiating power of the country will be strengthened.""The creditors have not sought our approval but have asked for us to abandon our dignity. We must refuse," the premier noted, adding that the referendum "was not an attempt at a split with Europe but a split with the practices that are an insult to Europe.”
Earlier in the day, European Union finance ministers rejected an extension of the Greek bailout program, which expired on Tuesday, at a meeting in the EU’s de facto capital, Brussels, just hours after the Greek side declined the creditors’ latest offer.
On Friday, the troika of international lenders offered a €12-billion ($13.4-billion) extension of the current bailout deal to Athens provided that the cash-strapped country accepts the list of austerity reforms under a new accord between the two sides.
The offer was rejected by Greece, which called instead for the referendum to let the Greek people decide on the matter.
Following its 2009 economic crisis, Greece received two bailout packages in 2010 and 2012 worth a total of €240 billion ($272 billion) from its creditors in return for implementing harsh austerity measures.
According to the terms of the bailout deal, Greece should make a €1.6-billion ($1.79 billion) payment to the IMF at the end of this month.
There are fears that Greece may go bankrupt and have to leave the eurozone if a deal is not reached by the end of June.
Source
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