| Series Title | Kathimerini |
|---|---|
| Series Details | 27.06.15 |
| Publication Date | 27/06/2015 |
| Content Type | News |
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Greece's Prime Minister Alexis Tsipras announced on the 27 June 2015 that his government would hold a referendum on whether Greece should accept the proposals put forward by international creditors in the Troika. Mr Tsipras made it clear that he was against accepting the terms offered by creditors but said that he would accept the outcome of any vote. The prime minister said he would go to Parliament later on the 27 June 2015 to get approval from MPs to hold the referendum on the 5 July 2015 [The Greek Parliament approved the referendum proposal on the 28 June 2015]. Eurozone Finance Ministers met in a Eurogroup meeting in Brusels on the 27 June 2015. In a statement issued after the first part of the meeting, 18 Eurogroup members regretted that the proposal by the institutions had been rejected by the Greek authorities unilaterally. In the statement issued following the discussion, ministers concluded that the euro area intended to make full use of all the instruments available to preserve the integrity and stability of the eurozone. These instruments would complement any actions that the European Central Bank might decide to take. The current financial assistance arrangement with Greece would expire on 30 June 2015 (the Eurogroup rejected a Greek request for a one-month extension). All other arrangements related to Greece's current programme, including transfer by euro area member states of securities markets programme (SMP) and agreement on net financial assets (ANFA) profits would expire on the same date. Eurogroup President Jeroen Dijsselbloem called the referendum plan 'a sad decision for Greece'. The European Central Bank (ECB) issued a statement on the 28 June 2015 saying 'Following the decision by the Greek authorities to hold a referendum and the non-prolongation of the EU adjustment programme for Greece, the Governing Council declared it will work closely with the Bank of Greece to maintain financial stability. Given the current circumstances, the Governing Council decided to maintain the ceiling to the provision of emergency liquidity assistance (ELA) to Greek banks at the level decided on Friday (26 June 2015)'. For the next developments see this ESO record 'Closed banks and capital controls until referendum'. |
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| Source Link | Link to Main Source http://www.ekathimerini.com/4dcgi/_w_articles_wsite1_1_27/06/2015_551569 |
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| Subject Categories | Economic and Financial Affairs |
| Countries / Regions | Europe, Greece |
