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“To the people to speak without pressure or blackmail. “ 1 hour 20 am in Greece (0:20 in Paris), Saturday, June 27: In a very solemn declaration, Prime Minister Alexis Tsipras announced that a referendum would be held on July 5 on the aid plan in the country. According to government sources, the question will be: “Yes or no to the proposal of creditors” – European Commission, European Central Bank and International Monetary Fund
“We have delivered a five-month. battle “ went Alexis Tsipras. “Unfortunately creditors made an ultimatum to shape proposal us” we “have never ceded. We never betrayed your confidence (…). We will respond to the ultimatum by consulting the people and I pledge to respect your decision whatsoever “.
In the cafes in full this Friday night, the screens Live television rebroadcast the event. “Suddenly the silence was total” , will tell us an hour later Dimitris Latsos, server of a busy coffee Pangrati district. “Everybody was flabbergasted,” . Then the debate began. “Between one side those insulting, accusing him of leading the country to ruin and those congratulating and hero of treating” . Some stood up to get some money in neighboring distributors. While in recent weeks, the simplest Greeks resisted the impulse to go massively withdraw their money in the bank, there at night, around 2 am, about twenty people were already waiting in front of each distributor neighborhood. “I will take only enough to spend the week because I fear that banks are closed tomorrow but after I know they will organize this so that we can get a certain amount every week” , understands Athanssios, 23, a student. A reference to capital control measures implemented in Cyprus in spring 2013
Read:. Creditors Athens arouse misunderstanding and anger among Greeks
Pride against dismay
The small group is mainly composed at this late hour of young men who were out and the debate is still very much alive. “It is very good that we asked our opinion” and says Dionysus, 25, a baker. “This is bullshit. The economy will plunge even more », answers Stéfanos, 31, a civil engineer. The same debate then ignites social networks. At Syriza, the party of the radical left, the tone is pride. “Finally, democracy takes its course on the European technocracy and refuses to give in to blackmail of a conservative Europe” can be read online. “The people will vote NO to the agreement I’m on” says soon the minister of productive recovery Panayiotis Lafazanis, head of a stream located in the left wing of Syriza.
In opposition, there is consternation. Conservative MP New Democracy (ND) Kiriakos Mitsotakis calls on Twitter for immediate elections. Andonis Samaras, the leader of ND, calls him a referendum around the question: “For or against keeping Greece in the euro area.” “We will not fall into this trap. It is not that on which the people must decide “, they reply to the government. The Minister of State, Nikos Pappas warned that “whoever combines the will of a people to end austerity to an output of the euro is playing a dangerous game for our common currency,” . And accuse bluntly “German radical circles and the International Monetary Fund to play a dangerous game for the future of the euro and of Europe” . But by the referendum, in 9 days, what can happen?
What will the ECB?
Saturday is scheduled in Brussels holding a Eurogroup for a new round of talks between Greece and its creditors. Will the Europeans under pressure to review their copy and make new proposals to avoid a new period of political instability, with uncertain outcomes for the eurozone? A Maximos (Greek Matignon) it is stated that Hollande and Merkel have been warned of the referendum
The crucial question is now as follows:. What the reaction of the European Central Bank which, through a line emergency funding (ELA), ensures the survival of the Greek banking sector for several months now? Two Greek emissaries, Euclid Tsakalotos and Yannis Dragassakis must meet Saturday, ECB governor Mario Draghi. Initially Mr Draghi could react by tightening financing conditions of the Greek banking sector by increasing the discount on collateral (guarantees) accepted for the funds obtained via the ELA.
The challenge Dragassakis for gentlemen and Tsakalotos will be to convince the ECB not to stop simply ELA, the last source of liquidity for the Greek economy. Which would force Alexis Tsipras to implement capital controls. “We want to have time to consult our people without financial intolerable pressures so that the democratic debate can be conducted without blackmail” , hammering that night all members of Syriza contacted by The World .
Technically, Saturday night, 19 hours in Greece, will take place a recorded vote. We need an absolute majority of 151 votes out of the 300 seats in the Greek parliament for the referendum to be launched
Read also (subscribers). For economists, the austerity in Greece will not replace the reforms
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