The Greek parliament is discussing the referendum law and voting is due for 21:00 GMT, 24 hours before markets open. Euro zone finance ministers gathered in Brussels express their worries about the dramatic referendum announcement, and they criticize the timing of the event now dubbed “Greferendum”. Also the head of the IMF Christine Lagarde says that “we will continue to work” but looks extremely serious according to reports.
Chief Dijesselbloem said it is a sad day for Greece and that it closes doors.
I am very negatively surprised by today’s decision by the Greek government. They have apparently rejected the final proposals from the Institutions.
In Germany, members of both Merkel’s CDU party and the SPD coalition partner have also rejected the move with some saying that Tsipras “pulled the plug”.
Greek finance minister Yanis Varoufakis enters the meeting without speaking to the press.
Along with the announcement of a referendum on the proposals (that the government rejects), Greece has asked for an extension of a few days, until after the planned referendum for July 5th. Finance ministers are expected to leave the deadline unchanged.
What looks more likely is capital controls. So far, there are only few reports of queues outside ATMs. The Bank of Greece reports smooth replenishing of cash machines.
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