What Next for Greece? A Timeline

By: Agence France-Presse
July 7, 2015 3:39 AM

2015-0706 Europe Tensely Awaits Greek Voters' Bailout Decision

ATHENS – Leaders from Greece and other eurozone countries are looking to see if there is a way to resolve the struggling country’s ongoing debt crisis, following a resounding rejection by Greeks of the latest bailout conditions.

Here is a timeline of the situation since the referendum results came in, as Greece and its 18 other eurozone partners seek a solution to a situation once thought of as unimaginable.

Sunday, July 5: 

– Greeks reject the terms of a bailout proposition with 61.31 percent voting “No”, providing solid domestic support for Prime Minister Alexis Tsipras.

– Tsipras tells Greeks the vote “is not an mandate of rupture with Europe, but a mandate that bolsters our negotiating strength to achieve a viable deal”.

   The Greek premier tells creditors: “This time, the debt will be on the negotiating table.”

– German Economy Minister Sigmar Gabriel says Tsipras has “torn down the bridges” between Greece and Europe, while Slovakia’s Finance Minister Peter Kazimir estimates that the prospect of a country leaving the eurozone now “seems like a realistic scenario”.

– German Chancellor Angela Merkel and French President Francois Hollande call an emergency eurozone summit for Tuesday and emphasize that the Greeks’ decision must “be respected”.

Monday, July 6: 

– Yanis Varoufakis says he is resigning as Greek finance minister to pave the way for talks with eurozone creditors. “I was made aware of a certain preference by some Eurogroup participants, and assorted ‘partners’, for my… ‘absence’ from its meetings,” he says in a blog, suggesting that Tsipras asked him to step down.

– Greek deputy foreign minister Euclid Tsakalotos, who has led talks with EU-IMF creditors, is named as the new finance minister.

– A spokesman for Merkel said “there is no basis to enter into negotiations on a new aid programme,” and Eurogroup chief Jeroen Dijsselbloem said the referendum results bring Europe “no closer to a solution.”

– Greece’s banks are to remain closed through Wednesday, the Greek state news agency says.

– Greece’s main political parties jointly call for an agreement with EU-IMF creditors, the president’s office says.

– The European Central Bank holds a telephone conference call of governors. The ECB, which does not confirm the meeting, holds the key to a short-term easing of market tension via its ability to provide cash to depleted Greek banks.

– International Monetary Fund chief Christine Lagarde says the global lender stood “ready to assist Greece if requested to do so”.

– Gabriel says a meeting of eurozone finance ministers (Eurogroup) on Tuesday will likely consider the need for humanitarian aid for Greece.

– Merkel and Hollande meet in Paris to agree a joint position by the eurozone’s two biggest economies.

– Russian President Vladimir Putin tells Tsipras he supports Greeks in overcoming their “difficulties” and hopes Greece will “reach the necessary compromise with creditors as soon as possible”.

(Source: InterAksyon.com)

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