Day of drama ahead as Greek MPs debate Alexis Tsipras’s plan for a referendum and eurozone finance ministers gather in BrusselsJunior coalition partner: Don’t panicIntroduction: Shock referendum called 9.15am BST The head of the junior coalition party in Greece, Panos Kammenos, has told Greeks to remain calm, as banks will remain open.Kammenos told local TV that the decision to call a referendum shouldn’t spark alarm.“Citizens should not be scared - there is no blackmail,” “The banks won’t shut, the ATMs will (have cash). All this is exaggeration.”Ind Greeks leader Kammenos (coalition party) says if creditors back down & accept Greek proposal "everything changes-referendum called off." 9.12am BST There are signs that worried Greeks are heading to the cash machines in greater numbers this morning.Ουρές σε ΑΤΜ στο Γαλάτσι pic.twitter.com/7LvU8v6Aoi2 out of 3 ATM in Athens refused my card and could only get €100 out of Eurobank one. Old Greek ladies shoving 1, 2, 3 cards into ATMsbank run watch, poros: two people at the ATM, both weekending yachties from athens. locals haggling with fishermen over day's catch. 9.00am BST Good morning.Europe has woken up to a new phase of uncertainty this morning after Greek Alexis Tsipras stunned the nation, and beyond, by calling a referendum on its bailout deal. Related: Greek PM Alexis Tsipras calls referendum on bailout terms #Greece parliament plenary session at noon, #Eurogroup at 3pm (GR), vote on #Greferendum at 7pm (GR). #politics #euroToday's Eurogroup has a big decision to make: do they extend bailout to 5th July or not? The Greeks have requested that & it would 1/2allow the ECB to keep funding the banks. But why agree from their point of view? Would require a difficult Bundestag vote. 2/2Describing the vote as a “historic decision”, Tsipras said he had informed the leaders of France, Germany and Mario Draghi, the head of the European Central Bank about the decision. “I asked them to extend our current bailout by a few days so this democratic process could take place,” he said.Greeks would be asked whether they wanted to accept or reject excoriating tax hikes and pension cuts that the EU, ECB and International Monetary Fund have set as a condition to release desperately needed bailout funds. Greece’s current rescue programme, already extended once, expires on 30 June. Continue reading...
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