This article is from the source 'guardian' and was first published or seen on . It last changed over 40 days ago and won't be checked again for changes.
You can find the current article at its original source at http://www.theguardian.com/business/live/2015/jun/27/greek-crisis-mps-referendum-tsipras-eurogroup-ministers-live
The article has changed 25 times. There is an RSS feed of changes available.
| Version 21 | Version 22 |
|---|---|
| Greek crisis: Parliament approves referendum, after bailout extension rejected - as it happened | Greek crisis: Parliament approves referendum, after bailout extension rejected - as it happened |
| (18 days later) | |
| 1.12am BST | |
| 01:12 | |
| And finally, over to Reuters for a snap summary: | And finally, over to Reuters for a snap summary: |
| Greek lawmakers on Sunday authorised prime minister Alexis Tsipras’ proposed 5 July bailout referendum, setting Greece on course for a plebiscite that has enraged international creditors and increased Greece’s chances of exiting the eurozone. | Greek lawmakers on Sunday authorised prime minister Alexis Tsipras’ proposed 5 July bailout referendum, setting Greece on course for a plebiscite that has enraged international creditors and increased Greece’s chances of exiting the eurozone. |
| The government easily passed the 151-vote threshold needed to authorise the referendum, with deputies from the far-right Golden Dawn voting with the government and pro-European opposition parties New Democracy, Pasok and To Potami and the KKE Communist party voting against. | The government easily passed the 151-vote threshold needed to authorise the referendum, with deputies from the far-right Golden Dawn voting with the government and pro-European opposition parties New Democracy, Pasok and To Potami and the KKE Communist party voting against. |
| Greeks are due to vote on whether to accept or reject the latest terms offered by creditors to Athens in order to unlock billions of euros in bailout funds. | Greeks are due to vote on whether to accept or reject the latest terms offered by creditors to Athens in order to unlock billions of euros in bailout funds. |
| European partners have reacted negatively to the announcement of the referendum. On Saturday, they rejected a request by Tsipras to extend the current bailout in order to cover the period leading up to the referendum. The rejection means Athens is likely to default on a key payment to the International Monetary Fund on Tuesday. | European partners have reacted negatively to the announcement of the referendum. On Saturday, they rejected a request by Tsipras to extend the current bailout in order to cover the period leading up to the referendum. The rejection means Athens is likely to default on a key payment to the International Monetary Fund on Tuesday. |
| So, what a day. Thanks for sticking with us. I’d better shut down now. Back in the morning. | So, what a day. Thanks for sticking with us. I’d better shut down now. Back in the morning. |
| If you’re not already sated, check out Ian’s latest report. Goodnight! GW. | If you’re not already sated, check out Ian’s latest report. Goodnight! GW. |
| Tsipras’s shock call for vote on Greek bailout sets day of destiny for Europe http://t.co/4PYP4XIAH5 | Tsipras’s shock call for vote on Greek bailout sets day of destiny for Europe http://t.co/4PYP4XIAH5 |
| Updated | |
| at 1.17am BST | |
| 1.05am BST | |
| 01:05 | |
| Some instant reaction to tonight’s vote: | Some instant reaction to tonight’s vote: |
| The die is cast. #greferendum on Sunday. | The die is cast. #greferendum on Sunday. |
| We've got the referendum confirmed, but no proposal the referendum will decide about. Bizarre. #Greferendum | We've got the referendum confirmed, but no proposal the referendum will decide about. Bizarre. #Greferendum |
| undefined | undefined |
| With 178 votes in favour and 120 against, #Greece is headed for a referendum next Sunday. Stay tuned. Goodnight, good luck... #Greferendum | With 178 votes in favour and 120 against, #Greece is headed for a referendum next Sunday. Stay tuned. Goodnight, good luck... #Greferendum |
| 1.02am BST | |
| 01:02 | |
| The details of the vote are being checked, but it looks like a substantial majority in favour of referendum. | The details of the vote are being checked, but it looks like a substantial majority in favour of referendum. |
| Correction: 179 yes, 120 no | Correction: 179 yes, 120 no |
| That’s because the extremist Golden Dawn lined up with MPs from the left-wing Syriza coalition, and the populist right-wingers of ANEL. | That’s because the extremist Golden Dawn lined up with MPs from the left-wing Syriza coalition, and the populist right-wingers of ANEL. |
| 12.58am BST | |
| 00:58 | |
| GREEK GOVERNMENT WINS REFERENDUM VOTE | GREEK GOVERNMENT WINS REFERENDUM VOTE |
| A majority of Greek MPs have voted in favour of holding a referendum on its bailout terms on Sunday, 5th July. | A majority of Greek MPs have voted in favour of holding a referendum on its bailout terms on Sunday, 5th July. |
| Even though, as covered through the day, that bailout it set to expires in three day’s time. | Even though, as covered through the day, that bailout it set to expires in three day’s time. |
| 12.54am BST | |
| 00:54 | |
| I think the government has got to its majority now. | I think the government has got to its majority now. |
| And so does Reuters: | And so does Reuters: |
| Greek parliament passes the bill calling for the #Greferendum on the creditors' proposal to be held on Sunday, July 5th. | Greek parliament passes the bill calling for the #Greferendum on the creditors' proposal to be held on Sunday, July 5th. |
| 12.53am BST | |
| 00:53 | |
| The chamber’s thinning out now, as more MPs give their verdict and depart. | The chamber’s thinning out now, as more MPs give their verdict and depart. |
| 12.52am BST | |
| 00:52 | |
| Nearly there... | Nearly there... |
| Ψηφοφορία στη Βουλή για το δημοψήφισμα: ΝΑΙ 146, ΟΧΙ 102, ΠΑΡΩΝ 0 | Ψηφοφορία στη Βουλή για το δημοψήφισμα: ΝΑΙ 146, ΟΧΙ 102, ΠΑΡΩΝ 0 |
| 12.46am BST | |
| 00:46 | |
| The government is starting to open up a lead. Some 91 MPs have voted yes, while 70 have voted no. First to 151 wins. | The government is starting to open up a lead. Some 91 MPs have voted yes, while 70 have voted no. First to 151 wins. |
| 12.42am BST | |
| 00:42 | |
| The far-right Golden Dawn are voting for a referendum. | The far-right Golden Dawn are voting for a referendum. |
| That suggests that the government should get a comfortable majority, as Syriza and ANEL have 161 seats out of 300 anyway..... | That suggests that the government should get a comfortable majority, as Syriza and ANEL have 161 seats out of 300 anyway..... |
| So, if no surprises occur, #Greferendum is to be shortly validated by #Greece's Parliament with votes of Syriza, ANEL (gov) and GoldenDawn. | So, if no surprises occur, #Greferendum is to be shortly validated by #Greece's Parliament with votes of Syriza, ANEL (gov) and GoldenDawn. |
| 12.38am BST | |
| 00:38 | |
| MPs from the communist KKE party are voting against holding the referendum. | MPs from the communist KKE party are voting against holding the referendum. |
| 12.37am BST | |
| 00:37 | |
| Reminder, you can watch the voting here. | Reminder, you can watch the voting here. |
| 12.35am BST | |
| 00:35 | |
| That was indeed Yanis Varoufakis we spied earlier: | That was indeed Yanis Varoufakis we spied earlier: |
| Βουλευτές του ΣΥΡΙΖΑ περικύκλωσαν τον Γ. Βαρουφάκη μετά την επίστροφή του για να ενημερώθουν σχετικά με το Eurogroup pic.twitter.com/2qkmY5z1Mu | Βουλευτές του ΣΥΡΙΖΑ περικύκλωσαν τον Γ. Βαρουφάκη μετά την επίστροφή του για να ενημερώθουν σχετικά με το Eurogroup pic.twitter.com/2qkmY5z1Mu |
| 12.35am BST | |
| 00:35 | |
| The vote takes place by roll call, so each MPs name is read out, and they reply ναι η οχι (yes or no :) ). | The vote takes place by roll call, so each MPs name is read out, and they reply ναι η οχι (yes or no :) ). |
| Just 300 names to get through..... | Just 300 names to get through..... |
| 12.27am BST | |
| 00:27 | |
| And here we go... #Greferendum pic.twitter.com/0eRsTA9TBw | And here we go... #Greferendum pic.twitter.com/0eRsTA9TBw |
| 12.08am BST | |
| 00:08 | |
| OK, that spat is out of the way, and it’s vote time (followed swiftly by bed time). | OK, that spat is out of the way, and it’s vote time (followed swiftly by bed time). |
| I think we’ll get a five minute recess first -- time to dig out those pyjamas or pour another mug or glass of whatever’s keeping you going. | I think we’ll get a five minute recess first -- time to dig out those pyjamas or pour another mug or glass of whatever’s keeping you going. |
| 12.04am BST | |
| 00:04 | |
| Here’s the problem: | Here’s the problem: |
| KKE wants a vote to decide on which referendum questions to vote. More #vouli brilliance. | KKE wants a vote to decide on which referendum questions to vote. More #vouli brilliance. |
| 12.03am BST | |
| 00:03 | |
| There’s a vigorous exchange of views underway between communist MPs, Tsipras, and temporary speaker Mitropoulos - who is now laying down the law. | There’s a vigorous exchange of views underway between communist MPs, Tsipras, and temporary speaker Mitropoulos - who is now laying down the law. |
| It's 2am in Athens, the Greek parliament is in full session and tempers flare. pic.twitter.com/7vkfHPlrWs | It's 2am in Athens, the Greek parliament is in full session and tempers flare. pic.twitter.com/7vkfHPlrWs |
| Starting to worry that the bailout will expire before we get round to tonight’s vote..... | Starting to worry that the bailout will expire before we get round to tonight’s vote..... |
| 11.53pm BST | |
| 23:53 | |
| tsipras's speech was repetitious, long on buzzwords and short on substance, especially on the specifics of a 'no' vote. | tsipras's speech was repetitious, long on buzzwords and short on substance, especially on the specifics of a 'no' vote. |
| 11.52pm BST | |
| 23:52 | |
| Syriza’s MPs are on their feet and applauding hard as Tsipras ends his address. | Syriza’s MPs are on their feet and applauding hard as Tsipras ends his address. |
| Now, and not before time, it’s the vote - although a procedural issue is being raised by the Communist KKE party first. | Now, and not before time, it’s the vote - although a procedural issue is being raised by the Communist KKE party first. |
| Updated | |
| at 11.53pm BST | |
| 11.50pm BST | |
| 23:50 | |
| Tsipras is back on familiar ground as his speech comes to a climax: | Tsipras is back on familiar ground as his speech comes to a climax: |
| #Greek PM rachets up the rhetoric: "they chose to b the troika who kill off democracy. Our referendum will send msg of dignity 2 Europe." | #Greek PM rachets up the rhetoric: "they chose to b the troika who kill off democracy. Our referendum will send msg of dignity 2 Europe." |
| #Tsipras: "We have a mandate to go ahead. We don't have a right to let our country be a colony of debt for the coming decades" #Greferendum | #Tsipras: "We have a mandate to go ahead. We don't have a right to let our country be a colony of debt for the coming decades" #Greferendum |
| 11.47pm BST | |
| 23:47 | |
| Voting No in a week’s time would actually be a positive message for the future, says the PM. | Voting No in a week’s time would actually be a positive message for the future, says the PM. |
| #Greece "the big no will be a big yes to not aaccepting ultimatums" says PM #AlexisTsipras | #Greece "the big no will be a big yes to not aaccepting ultimatums" says PM #AlexisTsipras |
| He’s also vowing to abide by the result, even if the public choose Yes. | He’s also vowing to abide by the result, even if the public choose Yes. |
| #Greek PM #AlexisTsipras: "We will respect the result of the July 5th referendum, whatever it is." | #Greek PM #AlexisTsipras: "We will respect the result of the July 5th referendum, whatever it is." |
| Not much clarity about exactly what a No vote would lead to.... | Not much clarity about exactly what a No vote would lead to.... |
| Not a word about the day after a "no" vote. This meansSYRIZA are losing the #Greferendum before they even vote to hold it. | Not a word about the day after a "no" vote. This meansSYRIZA are losing the #Greferendum before they even vote to hold it. |
| 11.39pm BST | |
| 23:39 | |
| #Referendum is not about a split with #Europe but practices that offend #Europe," says #Greek PMAlexis Tsipras | #Referendum is not about a split with #Europe but practices that offend #Europe," says #Greek PMAlexis Tsipras |
| 11.36pm BST | |
| 23:36 | |
| We don’t want to break away with Europe, Tsipras pledges, just the policies which are counter to Europe’s traditional values..... | We don’t want to break away with Europe, Tsipras pledges, just the policies which are counter to Europe’s traditional values..... |
| 11.35pm BST | |
| 23:35 | |
| Syriza MPs are applauding, as their leader takes New Democracy to task: | Syriza MPs are applauding, as their leader takes New Democracy to task: |
| #Greek PM blasts opposition in parliament tonight 2night : "we are doing what you wanted to do but didn't, which is resist." | #Greek PM blasts opposition in parliament tonight 2night : "we are doing what you wanted to do but didn't, which is resist." |
| 11.34pm BST | |
| 23:34 | |
| Our Athens correspondent, Helena Smith, is tweeting the key points from Alexis Tsipras’s speech: | Our Athens correspondent, Helena Smith, is tweeting the key points from Alexis Tsipras’s speech: |
| "Those who condemn #Greek economy to recession & speak of recession r killing off tourism our most successful sector" says #Tsipras | "Those who condemn #Greek economy to recession & speak of recession r killing off tourism our most successful sector" says #Tsipras |
| #Tsipras accuses EU/IMF of "not wanting us to reach deal but surrender our political dignity," in speech before House 2night | #Tsipras accuses EU/IMF of "not wanting us to reach deal but surrender our political dignity," in speech before House 2night |
| 11.32pm BST | |
| 23:32 | |
| Tsipras is now criticising creditors, for insisting on further cuts to pension spending, hitting the poorest, and refusing to allow the minimum wage to rise. | Tsipras is now criticising creditors, for insisting on further cuts to pension spending, hitting the poorest, and refusing to allow the minimum wage to rise. |
| He also tries to build bridges with EC president Jean-Claude Juncker; not so much with the IMF though. | He also tries to build bridges with EC president Jean-Claude Juncker; not so much with the IMF though. |
| Tsipras thanks EU Commission President Juncker for "genuine effort" to try and find deal, blames IMF for interfering in policy #Greece | Tsipras thanks EU Commission President Juncker for "genuine effort" to try and find deal, blames IMF for interfering in policy #Greece |
| 11.25pm BST | |
| 23:25 | |
| #Greek pm #AlexisTsipras tells House" The #IMF knows [our] debt is not viable" ahead of vote on referendum over proposed reforms | #Greek pm #AlexisTsipras tells House" The #IMF knows [our] debt is not viable" ahead of vote on referendum over proposed reforms |
| 11.23pm BST | |
| 23:23 | |
| This is a defiant speech from Tsipras; no sign of a backward step following today’s sensational development in Brussels, where finance ministers decided Greece’s bailout must end on Tuesday. | This is a defiant speech from Tsipras; no sign of a backward step following today’s sensational development in Brussels, where finance ministers decided Greece’s bailout must end on Tuesday. |
| Tsipras speech: High on pride of Greek nation and related concepts, low on any specifics whatsoever | Tsipras speech: High on pride of Greek nation and related concepts, low on any specifics whatsoever |
| 11.20pm BST | |
| 23:20 | |
| #Greek PM #AlexisTsipras "our only fear is fear itself" - FDR once again spicing up the otherwise wooden speeches of leftwing pols | #Greek PM #AlexisTsipras "our only fear is fear itself" - FDR once again spicing up the otherwise wooden speeches of leftwing pols |
| 11.19pm BST | |
| 23:19 | |
| Yesterday our creditors blackmailed us with the threat of depriving liquidity, says Tsipras, today they use the fear of a bank run. | Yesterday our creditors blackmailed us with the threat of depriving liquidity, says Tsipras, today they use the fear of a bank run. |
| He speaks of a propaganda of fear - but argues that the referendum could shake it off. | He speaks of a propaganda of fear - but argues that the referendum could shake it off. |
| 11.16pm BST | |
| 23:16 | |
| Tsipras says Europe shouldn’t fear referendums - many countries have held them before, including to implement treaties such as Maastricht. | Tsipras says Europe shouldn’t fear referendums - many countries have held them before, including to implement treaties such as Maastricht. |
| Το #dimopsifisma για να αποφασίσει κυρίαρχα ο λαός μας για το μέλλον του θα γίνει την επόμενη Κυριακή. #Greece #vouli | Το #dimopsifisma για να αποφασίσει κυρίαρχα ο λαός μας για το μέλλον του θα γίνει την επόμενη Κυριακή. #Greece #vouli |
| 11.14pm BST | |
| 23:14 | |
| Tsipras gets an early round of applause by telling MPs he won’t ask permission from Eurogroup president Dijsselbloem to hold a referendum. Nor Germany’s finance minister, either. | Tsipras gets an early round of applause by telling MPs he won’t ask permission from Eurogroup president Dijsselbloem to hold a referendum. Nor Germany’s finance minister, either. |
| tsipras: we won't ask schauble or dijessbloem for permission to protect democracy in the land where it was born. | tsipras: we won't ask schauble or dijessbloem for permission to protect democracy in the land where it was born. |
| #Greek pm #Alexis Tsipras tell parliament: "We r not going to ask Schauble et al for permission to hold referendum" | #Greek pm #Alexis Tsipras tell parliament: "We r not going to ask Schauble et al for permission to hold referendum" |
| Updated | |
| at 11.37pm BST | |
| 11.13pm BST | |
| 23:13 | |
| Tsipras: It's a historic moment | Tsipras: It's a historic moment |
| Alexis Tsipras begins by telling MPs that today is a historic day, when a democratically elected government’s ability to decide its future was blocked by the eurogroup. | Alexis Tsipras begins by telling MPs that today is a historic day, when a democratically elected government’s ability to decide its future was blocked by the eurogroup. |
| #Greece pm #AlexisTsipras "we have come face to face with history" he tells parliament ahead of vote on referendum | #Greece pm #AlexisTsipras "we have come face to face with history" he tells parliament ahead of vote on referendum |
| 11.08pm BST | |
| 23:08 | |
| Antonis Samaras appears to be attempting to mobilise a public backlash to the referendum plan. | Antonis Samaras appears to be attempting to mobilise a public backlash to the referendum plan. |
| More: Samaras "We won't let anyone turn Greece into Zambia" Calls for pro-EU political alliance, public demonstrations #Greece | More: Samaras "We won't let anyone turn Greece into Zambia" Calls for pro-EU political alliance, public demonstrations #Greece |
| Anyway, he’s finished now, and here comes the PM | Anyway, he’s finished now, and here comes the PM |
| 11.06pm BST | |
| 23:06 | |
| #Samaras "you are not telling the Greek people what a "no" means. No means bankruptcy and euro exit," he tells parliament 2night | #Samaras "you are not telling the Greek people what a "no" means. No means bankruptcy and euro exit," he tells parliament 2night |
| 11.05pm BST | |
| 23:05 | |
| Samaras is now describing the referendum as a ‘coup’ attempt -- to get Greece out of the eurozone against the public will. | Samaras is now describing the referendum as a ‘coup’ attempt -- to get Greece out of the eurozone against the public will. |
| #Samaras accuses #Tsipras gov of representing "the drachma lobby" which which will destroy #Greece | #Samaras accuses #Tsipras gov of representing "the drachma lobby" which which will destroy #Greece |
| 11.03pm BST | |
| 23:03 | |
| Once Samaras finishes his speech, then we’ll finally hear from Alexis Tsipras. Then MPs can vote, so we’ll know if Greece will press on with a referendum in just over a week’s time. | Once Samaras finishes his speech, then we’ll finally hear from Alexis Tsipras. Then MPs can vote, so we’ll know if Greece will press on with a referendum in just over a week’s time. |
| 11.02pm BST | |
| 23:02 | |
| I think I spotted Yanis Varoufakis arriving in the chamber a few minutes ago, which means the Greek finance minister should be able to vote for the referendum. | I think I spotted Yanis Varoufakis arriving in the chamber a few minutes ago, which means the Greek finance minister should be able to vote for the referendum. |
| 11.00pm BST | |
| 23:00 | |
| Opposition leader Samaras: No vote is bankruptcy, euro-exit, suicide #Greece pic.twitter.com/lmVYOsuUDt | Opposition leader Samaras: No vote is bankruptcy, euro-exit, suicide #Greece pic.twitter.com/lmVYOsuUDt |
| 10.56pm BST | |
| 22:56 | |
| #Greece ex pm #AntonisSamaras tells parliament euro exit is the equivalent of "committing suicide" for Greeks as House votes on ref | #Greece ex pm #AntonisSamaras tells parliament euro exit is the equivalent of "committing suicide" for Greeks as House votes on ref |
| 10.56pm BST | |
| 22:56 | |
| New Democracy opposes a referendum, adds Samaras, but if it happens they’ll campaign for a Yes vote - to preserve Greece’s place in Europe. | New Democracy opposes a referendum, adds Samaras, but if it happens they’ll campaign for a Yes vote - to preserve Greece’s place in Europe. |
| 10.54pm BST | |
| 22:54 | |
| Samaras is accusing Tsipras of engineering a Grexit: | Samaras is accusing Tsipras of engineering a Grexit: |
| #Greece "u r calling on Greek people to approve exit from euro, u allowed time to draw out so u cd remove country from currency bloc." | #Greece "u r calling on Greek people to approve exit from euro, u allowed time to draw out so u cd remove country from currency bloc." |
| 10.53pm BST | |
| 22:53 | |
| Antonis Samaras is finishing his speech - telling MPs that the government has left Greeks very fearful: | Antonis Samaras is finishing his speech - telling MPs that the government has left Greeks very fearful: |
| #Greece ex pm #AntonisSamaras tells parliament "we r all afraid what we will wake up to tomorrow." | #Greece ex pm #AntonisSamaras tells parliament "we r all afraid what we will wake up to tomorrow." |
| samaras: the best mirror of what is happening today with the negotiations is exactly what is happening in front of the ATMs, banks, >> | samaras: the best mirror of what is happening today with the negotiations is exactly what is happening in front of the ATMs, banks, >> |
<| < | |
| (reminder: our correspondents did report that some cash machines were very busy, but others rather quieter) | (reminder: our correspondents did report that some cash machines were very busy, but others rather quieter) |
| Updated | |
| at 10.54pm BST | |
| 10.48pm BST | |
| 22:48 | |
| Now they’ve stopped for another recess! That’s so another MP (Dimitris Mitropoulos, I think) can chair the end of the session. | Now they’ve stopped for another recess! That’s so another MP (Dimitris Mitropoulos, I think) can chair the end of the session. |
| Speaker Konstantopoulou appears to have sent herself off, to restore harmony, after breaching a parliamentary rule by taking her seat during Samara’s speech. | Speaker Konstantopoulou appears to have sent herself off, to restore harmony, after breaching a parliamentary rule by taking her seat during Samara’s speech. |
| and a five-minute recess for all this to happen. when parliament reconvenes, we have samaras, tsipras, and voting. | and a five-minute recess for all this to happen. when parliament reconvenes, we have samaras, tsipras, and voting. |
| I don't like Konstantopoulou so much, but just now she was a real class act. That pack of hyenas didn't deserve such polite behaviour. | I don't like Konstantopoulou so much, but just now she was a real class act. That pack of hyenas didn't deserve such polite behaviour. |
| 10.41pm BST | |
| 22:41 | |
| MPs are taking their seats again.... Zoe Konstantopoulou is back in the Speaker’s Chair too, and telling MPs that it’s important to maintain parliament’s image, with the world watching. | MPs are taking their seats again.... Zoe Konstantopoulou is back in the Speaker’s Chair too, and telling MPs that it’s important to maintain parliament’s image, with the world watching. |
| I fear that particular ship sailed mid-way through the finger-pointing row that ended with New Democracy exiting stage left. | I fear that particular ship sailed mid-way through the finger-pointing row that ended with New Democracy exiting stage left. |
| konstantopoulou explaining the rule that she broke that angered samaras amid some comments from the floor. (i hope this doesn't take long) | konstantopoulou explaining the rule that she broke that angered samaras amid some comments from the floor. (i hope this doesn't take long) |
| 10.21pm BST | |
| 22:21 | |
| Ah...Tsipras has asked for, and got, a short recess -- so that New Democracy MPs who left the chamber following Samaras’s speech (in a row with speaker Zoe Konstantopoulou) can take their seats again: | Ah...Tsipras has asked for, and got, a short recess -- so that New Democracy MPs who left the chamber following Samaras’s speech (in a row with speaker Zoe Konstantopoulou) can take their seats again: |
| #Samaras leads ND out of parliament, telling speaker "you're behaving like a dictator". Tells Tsipras to "control her". #vouli | #Samaras leads ND out of parliament, telling speaker "you're behaving like a dictator". Tells Tsipras to "control her". #vouli |
| And here’s a picture of that walkout: | And here’s a picture of that walkout: |
| 10.17pm BST | |
| 22:17 | |
| Tsipras speaks | Tsipras speaks |
| And finally, Alexis Tsipras is speaking in the Athens parliament - just 24 hours after announcing his referendum plan. | And finally, Alexis Tsipras is speaking in the Athens parliament - just 24 hours after announcing his referendum plan. |
| Updated | |
| at 10.17pm BST | |
| 10.15pm BST | |
| 22:15 | |
| Former prime minister Antonis Samaras is now speaking in parliament, and telling MPs that Tsipras has failed to win the better deal for Greece that he promised. | Former prime minister Antonis Samaras is now speaking in parliament, and telling MPs that Tsipras has failed to win the better deal for Greece that he promised. |
| samaras: you are the moral instigator of the proposal you censure today. | samaras: you are the moral instigator of the proposal you censure today. |
| samaras: the agreement you bring is worse than any previous bailout. not just what the creditors proposed but yours too. | samaras: the agreement you bring is worse than any previous bailout. not just what the creditors proposed but yours too. |
| New Democracy leader Antonis Samaras "we are pro eu when the referendum proposal drags Greece out of the ez" #vouli #greece | New Democracy leader Antonis Samaras "we are pro eu when the referendum proposal drags Greece out of the ez" #vouli #greece |
| There’s an awful lot of barracking and shouting from the floor too -- it’s more like the Punch and Judy of Westminster’s Prime Minister’s Questions than the more respectful debate we often see in the Bundestag. | There’s an awful lot of barracking and shouting from the floor too -- it’s more like the Punch and Judy of Westminster’s Prime Minister’s Questions than the more respectful debate we often see in the Bundestag. |
| 9.43pm BST | |
| 21:43 | |
| Greece’s minister of state, Nikos Pappas had earlier rejected criticism of the referendum - arguing it would help avoid the ‘catastrophe’ of further austerity: | Greece’s minister of state, Nikos Pappas had earlier rejected criticism of the referendum - arguing it would help avoid the ‘catastrophe’ of further austerity: |
| pappas: let's not wrap this discussion in the issue of the currency. we aim for an agreement that is economic feasible. | pappas: let's not wrap this discussion in the issue of the currency. we aim for an agreement that is economic feasible. |
| pappas: we want an agreement that is socially just and distributes burden on the haves too and leads greece to growth soon. | pappas: we want an agreement that is socially just and distributes burden on the haves too and leads greece to growth soon. |
| pappas: the yes isn't to europe, it's yes to memorandums...this time there isn't a 'yes to everything'. we will support our red line. | pappas: the yes isn't to europe, it's yes to memorandums...this time there isn't a 'yes to everything'. we will support our red line. |
| undefined | undefined |
| 9.37pm BST | |
| 21:37 | |
| Greece’s parliament is still debating whether to hold a referendum on Sunday 5th July, and there’s no sign that a vote is imminent. | Greece’s parliament is still debating whether to hold a referendum on Sunday 5th July, and there’s no sign that a vote is imminent. |
| Fofi Gennimata, the new leader of the opposition left-wing Pasok party, is currently speaking [livefeed]- she’s called on Tsipras to drop the referendum and hold snap elections instead. | Fofi Gennimata, the new leader of the opposition left-wing Pasok party, is currently speaking [livefeed]- she’s called on Tsipras to drop the referendum and hold snap elections instead. |
| Revoke referendum and call snap elections, PASOK leader Gennimata suggests to #Greece gov't at parliament. #politics #Greferendum | Revoke referendum and call snap elections, PASOK leader Gennimata suggests to #Greece gov't at parliament. #politics #Greferendum |
| gennimata: referendum is not a brave act, it is not an act of resistance. you divide greeks so that you won't divide syriza. | gennimata: referendum is not a brave act, it is not an act of resistance. you divide greeks so that you won't divide syriza. |
| gennimata: we must speak the language of truth. bankruptcy hides behind these choices. and that wd be national humiliation. | gennimata: we must speak the language of truth. bankruptcy hides behind these choices. and that wd be national humiliation. |
| 9.26pm BST | |
| 21:26 | |
| If you’re just catching up with today’s events, here’s Ian Traynor’s news story on the situation tonight: | If you’re just catching up with today’s events, here’s Ian Traynor’s news story on the situation tonight: |
| Europe’s single currency entered the stage of rupture for the first time in its 16-year life on Saturday night when 18 governments told Greece its bailout package would be terminated within days. The country plunged towards financial collapse after its leftwing prime minister, Alexis Tsipras, abandoned negotiations and called a referendum on his lenders’ terms for continuing the lifeline. | Europe’s single currency entered the stage of rupture for the first time in its 16-year life on Saturday night when 18 governments told Greece its bailout package would be terminated within days. The country plunged towards financial collapse after its leftwing prime minister, Alexis Tsipras, abandoned negotiations and called a referendum on his lenders’ terms for continuing the lifeline. |
| An emergency meeting of eurozone finance ministers took place in Brussels on Saturday evening without Greece for the first time since the crisis began in 2010. It turned into a crisis planning session devoted to quarantining Greece and insulating the rest of the eurozone from the impact of anticipated financial mayhem. | An emergency meeting of eurozone finance ministers took place in Brussels on Saturday evening without Greece for the first time since the crisis began in 2010. It turned into a crisis planning session devoted to quarantining Greece and insulating the rest of the eurozone from the impact of anticipated financial mayhem. |
| The weekend events threw Europe into weeks of confusion and turbulence as 10 days of intense last-ditch attempts to salvage an agreement between Greece and its creditors collapsed. Tsipras accused the country’s creditors of a vengeful act of humiliation against Greece and urged voters to follow him in rejecting the terms imposing more austerity in return for cash in the plebiscite on 5 July. | The weekend events threw Europe into weeks of confusion and turbulence as 10 days of intense last-ditch attempts to salvage an agreement between Greece and its creditors collapsed. Tsipras accused the country’s creditors of a vengeful act of humiliation against Greece and urged voters to follow him in rejecting the terms imposing more austerity in return for cash in the plebiscite on 5 July. |
| The finance ministers refused to extend Greece’s bailout beyond Tuesday, hastening the likelihood of Greece’s ejection from the euro. Yanis Varoufakis, the Greek finance minister, refused to endorse the collective statement and left the meeting. | The finance ministers refused to extend Greece’s bailout beyond Tuesday, hastening the likelihood of Greece’s ejection from the euro. Yanis Varoufakis, the Greek finance minister, refused to endorse the collective statement and left the meeting. |
| Tsipras’s gamble, following an EU summit in Brussels on Friday, leaves Europe’s leaders, notably Angela Merkel of Germany and Mario Draghi, the president of the European Central Bank, with a stark dilemma – whether to let Greece sink or swim... | Tsipras’s gamble, following an EU summit in Brussels on Friday, leaves Europe’s leaders, notably Angela Merkel of Germany and Mario Draghi, the president of the European Central Bank, with a stark dilemma – whether to let Greece sink or swim... |
| More here: | More here: |
| EU ministers refuse bailout extension for Greece as referendum looms http://t.co/bXazn5ki9s | EU ministers refuse bailout extension for Greece as referendum looms http://t.co/bXazn5ki9s |
| 9.12pm BST | |
| 21:12 | |
| Our Europe editor, Ian Traynor, has the inside line on today’s Eurogroup meeting: | Our Europe editor, Ian Traynor, has the inside line on today’s Eurogroup meeting: |
| #greece schaeuble told eurogroup no way now he would take a bailout extension to the bundestag. curtains - sources | #greece schaeuble told eurogroup no way now he would take a bailout extension to the bundestag. curtains - sources |
| #greece at least france's sapin had the humility to tell eurogroup it had made mistakes, things could've been done differently | #greece at least france's sapin had the humility to tell eurogroup it had made mistakes, things could've been done differently |
| 9.05pm BST | |
| 21:05 | |
| I didn’t spell it out earlier, but the reference to Greece taking ‘measures to ensure financial stability’ is a pretty clear hint that capital controls will be needed: | I didn’t spell it out earlier, but the reference to Greece taking ‘measures to ensure financial stability’ is a pretty clear hint that capital controls will be needed: |
| Eurogroup statement with nicely hidden hint to #Greece to start capital controls. http://t.co/X9FIZYP46t | Eurogroup statement with nicely hidden hint to #Greece to start capital controls. http://t.co/X9FIZYP46t |
| #Eurogroup statement telling markets it can handle the upcoming #Grexit & urging #Greece to initiate capital controls http://t.co/9Pl2kkcUcD | #Eurogroup statement telling markets it can handle the upcoming #Grexit & urging #Greece to initiate capital controls http://t.co/9Pl2kkcUcD |
| 8.55pm BST | |
| 20:55 | |
| Chart of the day (which doesn’t include the fact Greece dropped back into recession early this year) | Chart of the day (which doesn’t include the fact Greece dropped back into recession early this year) |
| Still, the Greek reaction is understandable given the sheer extent of the economic destruction. pic.twitter.com/QoqwJGOfzK | Still, the Greek reaction is understandable given the sheer extent of the economic destruction. pic.twitter.com/QoqwJGOfzK |
| 8.50pm BST | |
| 20:50 | |
| Must stress that we’ve not heard of any reports of thefts at cash machines today - so that last post was purely precautionary. | Must stress that we’ve not heard of any reports of thefts at cash machines today - so that last post was purely precautionary. |
| 8.41pm BST | |
| 20:41 | |
| Greek readers, please stay safe tonight: | Greek readers, please stay safe tonight: |
| Local radio in #Athens reporting police are patrolling some ATMs now that it's dark to protect against robberies as ppl use them. #Greece | Local radio in #Athens reporting police are patrolling some ATMs now that it's dark to protect against robberies as ppl use them. #Greece |
| 8.37pm BST | |
| 20:37 | |
| A protest in support of the Greek government has taken place in Madrid tonight, attended by (among others) the leader of Podemos, Spain’s anti-austerity party. | A protest in support of the Greek government has taken place in Madrid tonight, attended by (among others) the leader of Podemos, Spain’s anti-austerity party. |
| 8.28pm BST | |
| 20:28 | |
| Here’s the Slovak finance minister’s take: | Here’s the Slovak finance minister’s take: |
| Greece walked out of negotiations not us. the second programme will expire on Tuesday, which does not mean we gave up on #Greece | Greece walked out of negotiations not us. the second programme will expire on Tuesday, which does not mean we gave up on #Greece |
| Current situation is not pleasant. I reiterate it's about all 19 eurozone countries and we will pursue stability and credibility of the euro | Current situation is not pleasant. I reiterate it's about all 19 eurozone countries and we will pursue stability and credibility of the euro |
| 8.20pm BST | |
| 20:20 | |
| Michael Noonan added that we won’t know until late Sunday, or perhaps Monday morning, whether the ECB will extend more emergency liquidity to the Greek banks. | Michael Noonan added that we won’t know until late Sunday, or perhaps Monday morning, whether the ECB will extend more emergency liquidity to the Greek banks. |
| They have other options, he adds. “Monday could be a bank holiday”. (you can see the whole interview here) | They have other options, he adds. “Monday could be a bank holiday”. (you can see the whole interview here) |
| 8.13pm BST | |
| 20:13 | |
| Finance ministers are popping up all over the Commission, now the eurogroup meeting has broken up. | Finance ministers are popping up all over the Commission, now the eurogroup meeting has broken up. |
| Here’s Ireland’s Michael Noonan, telling reporters that the Greek referendum scuppered chances of an agreement today: | Here’s Ireland’s Michael Noonan, telling reporters that the Greek referendum scuppered chances of an agreement today: |
| Irish fin min Noonan: referendum announcement "took the ground from under us". "The crisis has commenced" pic.twitter.com/Xs0O6Teh2X | Irish fin min Noonan: referendum announcement "took the ground from under us". "The crisis has commenced" pic.twitter.com/Xs0O6Teh2X |
| Noonan 'I would like a situation to come around that even at this late stage that progress could be made towards an amicable solution' | Noonan 'I would like a situation to come around that even at this late stage that progress could be made towards an amicable solution' |
| 8.09pm BST | |
| 20:09 | |
| Eurogroup's Plan A: Hope the Greek government collapses when the parliament debates the referendum. Plan B: Mario Draghi save us all. | Eurogroup's Plan A: Hope the Greek government collapses when the parliament debates the referendum. Plan B: Mario Draghi save us all. |
| 8.09pm BST | |
| 20:09 | |
| Greece "must take measures to ensure stability" | Greece "must take measures to ensure stability" |
| The European Council has now issued the official statement following this evening’s meeting of the other 18 finance ministers. | The European Council has now issued the official statement following this evening’s meeting of the other 18 finance ministers. |
| Ministerial statement on 27 June 2015 | Ministerial statement on 27 June 2015 |
| It warns that Athens must take measures to ensure financial stability, once its bailout ends: | It warns that Athens must take measures to ensure financial stability, once its bailout ends: |
| We stress that the expiry of the EFSF financial arrangement with Greece, without immediate prospects of a follow-up arrangement, will require measures by the Greek authorities, with the technical assistance of the institutions, to safeguard the stability of the Greek financial system. | We stress that the expiry of the EFSF financial arrangement with Greece, without immediate prospects of a follow-up arrangement, will require measures by the Greek authorities, with the technical assistance of the institutions, to safeguard the stability of the Greek financial system. |
| The Eurogroup will monitor very closely the economic and financial situation in Greece and the Eurogroup stands ready to reconvene to take appropriate decisions where needed, in the interest of Greece as euro area member. | The Eurogroup will monitor very closely the economic and financial situation in Greece and the Eurogroup stands ready to reconvene to take appropriate decisions where needed, in the interest of Greece as euro area member. |
| 8.02pm BST | |
| 20:02 | |
| Today’s decisions don’t mean Greece is leaving the eurozone, Schäuble says. | Today’s decisions don’t mean Greece is leaving the eurozone, Schäuble says. |
| #Schäuble: We decided today that we will not extend the 2nd programme. We did not decide to end the Eurozone membership of #Greece. | #Schäuble: We decided today that we will not extend the 2nd programme. We did not decide to end the Eurozone membership of #Greece. |
| #Schäuble: We wouldn't have been able to end Eurozone membership of #Greece today - how? We don't know the rules (of leaving Euro.) | #Schäuble: We wouldn't have been able to end Eurozone membership of #Greece today - how? We don't know the rules (of leaving Euro.) |
| 7.59pm BST | |
| 19:59 | |
| Germany’s Wolfgang Schauble has been giving his own press conference -- and claimed that Greece is likely to get into a “difficult situation” in the days ahead. | Germany’s Wolfgang Schauble has been giving his own press conference -- and claimed that Greece is likely to get into a “difficult situation” in the days ahead. |
| Reuters has snapped the key points: | Reuters has snapped the key points: |
| Schäuble: "This is not a good day for Europe. But Europe usually became stronger during crises." | Schäuble: "This is not a good day for Europe. But Europe usually became stronger during crises." |
| 7.55pm BST | |
| 19:55 | |
| The decision to break off talks last night and call a referendum was untimely, so why should we allow more time, Dijsselbloem asks. | The decision to break off talks last night and call a referendum was untimely, so why should we allow more time, Dijsselbloem asks. |
| Things might be easier if the Greeks had called a referendum earlier, or had recommended that the people support the measures | Things might be easier if the Greeks had called a referendum earlier, or had recommended that the people support the measures |
| He then adds that the Athens parliament still has to take “a wise position, and I hope that may lead to a different political situation.” | He then adds that the Athens parliament still has to take “a wise position, and I hope that may lead to a different political situation.” |
| #Dijsselbloem: Greek parliament still has to take a wise decision on that, hope it will lead to a different political situation | #Dijsselbloem: Greek parliament still has to take a wise decision on that, hope it will lead to a different political situation |
| 7.49pm BST | |
| 19:49 | |
| Did you exclude the Greek delegation from today’s Eurogroup? | Did you exclude the Greek delegation from today’s Eurogroup? |
| Mr Varoufakis left the meeting before it ended, on his own account, says Dijsselbloem. | Mr Varoufakis left the meeting before it ended, on his own account, says Dijsselbloem. |
| Varoufakis left, @J_Dijsselbloem then ministers asked for another | Varoufakis left, @J_Dijsselbloem then ministers asked for another |
| Are you planning to call another eurogroup meetings? | Are you planning to call another eurogroup meetings? |
| We will monitor events, and reconvene if necessary, Dijsselbloem adds. | We will monitor events, and reconvene if necessary, Dijsselbloem adds. |
| Updated | |
| at 7.50pm BST | |
| 7.48pm BST | |
| 19:48 | |
| Is there a risk of contagion now? | Is there a risk of contagion now? |
| Dijsselbloem says that the former programme countries (those who have been through a bailout) are in much better shape. And the eurozone institutions are ready to take any action needed. | Dijsselbloem says that the former programme countries (those who have been through a bailout) are in much better shape. And the eurozone institutions are ready to take any action needed. |
| 7.46pm BST | |
| 19:46 | |
| Onto questions: Will Dijsselbloem respond to Yanis Varoufakis’s suggestion that the Greek government will campaign for a “yes” vote in the referendum, if the institutions make new proposals? | Onto questions: Will Dijsselbloem respond to Yanis Varoufakis’s suggestion that the Greek government will campaign for a “yes” vote in the referendum, if the institutions make new proposals? |
| Dijsselbloem replies that it was Greece that broke off talks last night, not the creditors. The door is open to more talks with Greece. | Dijsselbloem replies that it was Greece that broke off talks last night, not the creditors. The door is open to more talks with Greece. |
| He then adds that “the process hasn’t ended, it will never end, probably...” | He then adds that “the process hasn’t ended, it will never end, probably...” |
| 7.43pm BST | |
| 19:43 | |
| Speaking a little hesitantly, Dijsselbloem says that the 18 eurozone finance ministers discussed “our strong determination to ensure the strength of our monetary union”. | Speaking a little hesitantly, Dijsselbloem says that the 18 eurozone finance ministers discussed “our strong determination to ensure the strength of our monetary union”. |
| And we will use all the instruments at our disposal to ensure financial stability, alongside the ECB. | And we will use all the instruments at our disposal to ensure financial stability, alongside the ECB. |
| The eurogroup still consists of 19 members , he states firmly. And we stand ready to support Greece if and when required, after the programme expires. | The eurogroup still consists of 19 members , he states firmly. And we stand ready to support Greece if and when required, after the programme expires. |
| 7.38pm BST | |
| 19:38 | |
| Final Eurogroup press conferences begin | Final Eurogroup press conferences begin |
| Later than advertised, here comes the final act after a historic day in Brussels -- a press conference from Jeroen Dijsselbloem, president of the eurogroup. Here’s the live stream. | Later than advertised, here comes the final act after a historic day in Brussels -- a press conference from Jeroen Dijsselbloem, president of the eurogroup. Here’s the live stream. |
| Looks like Germany’s Wolfgang Schäuble will also give a briefing, which should be streamed here. | Looks like Germany’s Wolfgang Schäuble will also give a briefing, which should be streamed here. |
| 7.28pm BST | |
| 19:28 | |
| EC vice-president Vladis Dombrovskis has also surfaced from the Eurogroup meeting: | EC vice-president Vladis Dombrovskis has also surfaced from the Eurogroup meeting: |
| #Greece remains part of the eurozone. #Eurogroup decisive to ensure the financial stability and to further strengthen the eurozone. | #Greece remains part of the eurozone. #Eurogroup decisive to ensure the financial stability and to further strengthen the eurozone. |
| 7.27pm BST | |
| 19:27 | |
| Meeting ends. Press conferences imminent. | Meeting ends. Press conferences imminent. |
| 7.24pm BST | |
| 19:24 | |
| Helena Smith | Helena Smith |
| Back in Greece...energy minister Panagiotis Lafazanis has just told Mega News that whatever changes (if any?) are made by creditors in the days ahead they won’t change the “essence of the proposal”, which is unacceptable. | Back in Greece...energy minister Panagiotis Lafazanis has just told Mega News that whatever changes (if any?) are made by creditors in the days ahead they won’t change the “essence of the proposal”, which is unacceptable. |
| He said: | He said: |
| “We went into the euro to improve our lives, not to accept constant blackmail. Syriza’s choice was not to leave the euro zone but to defend the interests of the people. If there is no agreement there are other roads that Greece has at its disposal.” | “We went into the euro to improve our lives, not to accept constant blackmail. Syriza’s choice was not to leave the euro zone but to defend the interests of the people. If there is no agreement there are other roads that Greece has at its disposal.” |
| Lafazanis heads the far left faction in prime minister Alexis Tsipras’ Syriza party. | Lafazanis heads the far left faction in prime minister Alexis Tsipras’ Syriza party. |
| Updated | |
| at 7.24pm BST | |
| 7.23pm BST | |
| 19:23 | |
| European commissioner Pierre Moscovici, the former French finance minister, has denied that Greece is exiting the eurozone: | European commissioner Pierre Moscovici, the former French finance minister, has denied that Greece is exiting the eurozone: |
| 7.22pm BST | |
| 19:22 | |
| The Dijsselbloem press conference appears to be running late, sorry. | The Dijsselbloem press conference appears to be running late, sorry. |
| 7.18pm BST | |
| 19:18 | |
| France appears to have been Greece’s only ally in the Eurogroup today: | France appears to have been Greece’s only ally in the Eurogroup today: |
| Acc to Greek diplomat sources the French fin min #Sapin was the only one who was in favour of the extension of the Greek progr. #Greferendum | Acc to Greek diplomat sources the French fin min #Sapin was the only one who was in favour of the extension of the Greek progr. #Greferendum |
| 7.14pm BST | |
| 19:14 | |
| The killer line in DSK’s take on Greece is that creditors are failing to learn lessons and “seem to be repeating the mistakes”. | The killer line in DSK’s take on Greece is that creditors are failing to learn lessons and “seem to be repeating the mistakes”. |
| 7.12pm BST | |
| 19:12 | |
| #greece oh dear, this blamegame...@dstrausskahn now seems to be having a go a @Lagarde | #greece oh dear, this blamegame...@dstrausskahn now seems to be having a go a @Lagarde |
| 7.05pm BST | |
| 19:05 | |
| Dominique Strauss-Kahn, who ran the IMF when the first Greek bailout was arranged, has published a ‘mea culpa’ about the mistakes the Fund made: | Dominique Strauss-Kahn, who ran the IMF when the first Greek bailout was arranged, has published a ‘mea culpa’ about the mistakes the Fund made: |
| He’s admitted that it should have pushed other eurozone countries to do more to help Greece and fought against the push for tough austerity, admitting that it also miscalculated the impact of such “pro-cyclical adjustment”. | He’s admitted that it should have pushed other eurozone countries to do more to help Greece and fought against the push for tough austerity, admitting that it also miscalculated the impact of such “pro-cyclical adjustment”. |
| And while it’s too late to change that, DSK does make a case for giving Greece debt relief now - by rolling over and extending repayments due to official creditors. | And while it’s too late to change that, DSK does make a case for giving Greece debt relief now - by rolling over and extending repayments due to official creditors. |
| Greece : On learning from one's mistakes http://t.co/LU3p3RcPal #Greece #EU | Greece : On learning from one's mistakes http://t.co/LU3p3RcPal #Greece #EU |
| 6.53pm BST | |
| 18:53 | |
| Michel Sapin is going out of his way to argue that a deal between Greece and its creditors can yet be revived. | Michel Sapin is going out of his way to argue that a deal between Greece and its creditors can yet be revived. |
| Big contrast between Sapin & @J_Dijsselbloem. France stressing Greece will stay in euro, that talks can continue | Big contrast between Sapin & @J_Dijsselbloem. France stressing Greece will stay in euro, that talks can continue |
| 6.51pm BST | |
| 18:51 | |
| More is coming in about the telephone conversation the Greek prime minister Alexis Tsipras had this afternoon with the German chancellor Angela Merkel and French president Francois Hollande. | More is coming in about the telephone conversation the Greek prime minister Alexis Tsipras had this afternoon with the German chancellor Angela Merkel and French president Francois Hollande. |
| Helena Smith our correspondent writes: | Helena Smith our correspondent writes: |
| Courtesy of Mega News we are now learning that Tsipras’ chat with both leaders was far from cordial. The Greek prime minister, responding to Merkel’s protestations that the referendum would ultimately boil down to a choice “between the euro and drachma” is reported to have said: | Courtesy of Mega News we are now learning that Tsipras’ chat with both leaders was far from cordial. The Greek prime minister, responding to Merkel’s protestations that the referendum would ultimately boil down to a choice “between the euro and drachma” is reported to have said: |
| “No it isn’t. | “No it isn’t. |
| This is the birthplace of democracy. We are a sovereign country and will not be told what question to pose in this referendum. The referendum wiill take place regardless of whatever the decision the Eurogroup takes.” | This is the birthplace of democracy. We are a sovereign country and will not be told what question to pose in this referendum. The referendum wiill take place regardless of whatever the decision the Eurogroup takes.” |
| The TV channel has also reported this evening that some €400m euro have been withdrawn from ATMs since Tsipras announced the vote. Dozens of MPs have been seen lining up at ATMs in the parliament building today. | The TV channel has also reported this evening that some €400m euro have been withdrawn from ATMs since Tsipras announced the vote. Dozens of MPs have been seen lining up at ATMs in the parliament building today. |
| 6.47pm BST | |
| 18:47 | |
| French fin min #Sapin said that France could work from tomorrow as a mediator to reach an agreement with #Greece. #Greferendum #Eurogroup | French fin min #Sapin said that France could work from tomorrow as a mediator to reach an agreement with #Greece. #Greferendum #Eurogroup |
| 6.46pm BST | |
| 18:46 | |
| Meanwhile, France’s Michel Sapin is insisting, adamantly, that a deal can be salvaged. | Meanwhile, France’s Michel Sapin is insisting, adamantly, that a deal can be salvaged. |
| Sapin: I will repeat, France is on hand at any time to find a solution for #Greece. Before the 30th, on the 30th, after the 30th... | Sapin: I will repeat, France is on hand at any time to find a solution for #Greece. Before the 30th, on the 30th, after the 30th... |
| 6.46pm BST | |
| 18:46 | |
| Here’s your 15 minute warning -- eurogroup president Jeroen Dijsselbloem will hold a closing press conference at 8pm Brussels time (9pm Athens, 7pm UK). | Here’s your 15 minute warning -- eurogroup president Jeroen Dijsselbloem will hold a closing press conference at 8pm Brussels time (9pm Athens, 7pm UK). |
| Hopefully we’ll learn what measures the eurozone will take to preserve financial stability given the dramatic escalation of the Greek crisis: | Hopefully we’ll learn what measures the eurozone will take to preserve financial stability given the dramatic escalation of the Greek crisis: |
| #Eurogroup press conference at 20:00 Brussels' time #Greece #Greferendum | #Eurogroup press conference at 20:00 Brussels' time #Greece #Greferendum |
| 6.43pm BST | |
| 18:43 | |
| Sapin: I will say with force - what happened today does not mean that #Greece has left the #Eurozone. | Sapin: I will say with force - what happened today does not mean that #Greece has left the #Eurozone. |
| 6.42pm BST | |
| 18:42 | |
| France's Sapin: We want Greece to stay in the euro | France's Sapin: We want Greece to stay in the euro |
| The remaining 18 finance minister have just ended their meeting -- Michel Sapin of France is giving a briefing now (livefeed here). | The remaining 18 finance minister have just ended their meeting -- Michel Sapin of France is giving a briefing now (livefeed here). |
| He is telling reporters that France is ready to restart talks at any time with Greece. Nobody, least of all France, wants Grexit. | He is telling reporters that France is ready to restart talks at any time with Greece. Nobody, least of all France, wants Grexit. |
| We talked about issues of bank solvency this afternoon, Sapin says, but not Grexit. | We talked about issues of bank solvency this afternoon, Sapin says, but not Grexit. |
| And he criticises the decision to call a referendum - it creates problems, particularly for Greece itself. | And he criticises the decision to call a referendum - it creates problems, particularly for Greece itself. |
| 6.37pm BST | |
| 18:37 | |
| Summary: Greece on brink of default | Summary: Greece on brink of default |
| A quick recap of the last few few hours. | A quick recap of the last few few hours. |
| Greece is on the brink of exiting its bailout programme and defaulting on the International Monetary Fund next Tuesday. | Greece is on the brink of exiting its bailout programme and defaulting on the International Monetary Fund next Tuesday. |
| At what must have been an exceptionally tense meeting in Brussels, fellow finance ministers rejected Yanis Varoufakis’s request to provide time for the Greek government to hold a referendum on Sunday, July 5. | At what must have been an exceptionally tense meeting in Brussels, fellow finance ministers rejected Yanis Varoufakis’s request to provide time for the Greek government to hold a referendum on Sunday, July 5. |
| Instead, the remaining 18 members issued a statement saying the bailout will expire in five days time. | Instead, the remaining 18 members issued a statement saying the bailout will expire in five days time. |
| They are now holding a second meeting - without Athens at the table - to prepare for the consequences, as Europe’s long-running financial crisis enters a new and dangerous phase. | They are now holding a second meeting - without Athens at the table - to prepare for the consequences, as Europe’s long-running financial crisis enters a new and dangerous phase. |
| Greece’s shock decision to call a referendum on the proposals from its creditors has clearly stunned many finance ministers. Arriving at the meeting, eurogroup president Jeroen Dijsselbloem called it a negative surprise: | Greece’s shock decision to call a referendum on the proposals from its creditors has clearly stunned many finance ministers. Arriving at the meeting, eurogroup president Jeroen Dijsselbloem called it a negative surprise: |
| And speaking afterwards, Dijsselbloem spoke of the risk that Greece faces once its bailout ends: | And speaking afterwards, Dijsselbloem spoke of the risk that Greece faces once its bailout ends: |
| “It is the responsibility of the Greek government to meet its obligations, firstly with the IMF,...It is a responsibility and it doesn’t go away.” | “It is the responsibility of the Greek government to meet its obligations, firstly with the IMF,...It is a responsibility and it doesn’t go away.” |
| Yanis Varoufakis called it “A bad day for Europe” as he left the Commission. | Yanis Varoufakis called it “A bad day for Europe” as he left the Commission. |
| He also criticised the eurogroup for failing to accept that Athens had to put the creditors’ proposal to its people, saying he feared it would suffer permanent damage to its credibility as a democratic institution. | He also criticised the eurogroup for failing to accept that Athens had to put the creditors’ proposal to its people, saying he feared it would suffer permanent damage to its credibility as a democratic institution. |
| And Varoufakis even floated the prospect of the Greek government reversing its position and backing the plan in next Sunday’s referendum - if creditors offered better terms. | And Varoufakis even floated the prospect of the Greek government reversing its position and backing the plan in next Sunday’s referendum - if creditors offered better terms. |
| The ECB, whose emergency funds have helped Greek banks keep running as savers withdrew funds this year, says it is monitoring the situation closely. | The ECB, whose emergency funds have helped Greek banks keep running as savers withdrew funds this year, says it is monitoring the situation closely. |
| And there are reports that bank withdrawals have continued through the day: | And there are reports that bank withdrawals have continued through the day: |
| One-third of #Greece ATMs has run out of banknotes since Fri night, outflows at €1 bln so far (via @MegaGegonota) #ecb #ela #Greferendum | One-third of #Greece ATMs has run out of banknotes since Fri night, outflows at €1 bln so far (via @MegaGegonota) #ecb #ela #Greferendum |
| Greek MPs are still debating whether to hold a referendum, with a vote expected at midnight Athens time (10pm BST). | Greek MPs are still debating whether to hold a referendum, with a vote expected at midnight Athens time (10pm BST). |
| 6.09pm BST | |
| 18:09 | |
| Very surreal atmosphere in press room here in Brussels. One journalist in tears. Most reporters shocked euro rupture is happening. #Greece | Very surreal atmosphere in press room here in Brussels. One journalist in tears. Most reporters shocked euro rupture is happening. #Greece |
| 5.56pm BST | |
| 17:56 | |
| Helena Smith, our Athens correspondent, has more details of Tsipras’s call to Merkel and Hollande today. | Helena Smith, our Athens correspondent, has more details of Tsipras’s call to Merkel and Hollande today. |
| Tsipras apparently told both leaders: | Tsipras apparently told both leaders: |
| “Democracy is of the highest order in Greece and the referendum will take place regardless of the Euro group decision.” | “Democracy is of the highest order in Greece and the referendum will take place regardless of the Euro group decision.” |
| 5.54pm BST | |
| 17:54 | |
| Some instant reaction to this afternoon’s drama: | Some instant reaction to this afternoon’s drama: |
| Tsipras set off a chain of event/uncertainties w/ his ref move that his govt cannot control. Hard to see how it can end well for #Greece | Tsipras set off a chain of event/uncertainties w/ his ref move that his govt cannot control. Hard to see how it can end well for #Greece |
| Welcome to #Draghi's nightmare: #Greece plunging euro into huge political/legal mess. This is one for jurists now? Not Europe's finest hours | Welcome to #Draghi's nightmare: #Greece plunging euro into huge political/legal mess. This is one for jurists now? Not Europe's finest hours |
| If you've got 18 euro fin mins signing a PFO to Greece, you are not going to get 2/3 of @ecb GC voting to do much to help Greece. | If you've got 18 euro fin mins signing a PFO to Greece, you are not going to get 2/3 of @ecb GC voting to do much to help Greece. |
| GC = governing council. PFO = Please File Outside (only less polite) | GC = governing council. PFO = Please File Outside (only less polite) |
| 5.47pm BST | |
| 17:47 | |
| Greek MPs are continuing to debate whether to hold a referendum next Sunday on the offer from its creditors - even though that offer is on track to expire on Tuesday night. | Greek MPs are continuing to debate whether to hold a referendum next Sunday on the offer from its creditors - even though that offer is on track to expire on Tuesday night. |
| We now have surreal situation of Greek MPs debating a referendum on proposal from lenders that won't exist by Sunday's vote #Greece #euro | We now have surreal situation of Greek MPs debating a referendum on proposal from lenders that won't exist by Sunday's vote #Greece #euro |
| 5.41pm BST | |
| 17:41 | |
| A Greek government insider has told local media that Alexis Tsipras has spoken by phone to Angela Merkel and Francois Hollande. | A Greek government insider has told local media that Alexis Tsipras has spoken by phone to Angela Merkel and Francois Hollande. |
| Apparently he told them that the Greek people will survive, whatever the Eurogroup decides: | Apparently he told them that the Greek people will survive, whatever the Eurogroup decides: |
| Greek gov source: Tsipras spoke w Merkel, Hollande, said whatever Eurogroup decision is Greek people will have oxygen nxt wk, will survive! | Greek gov source: Tsipras spoke w Merkel, Hollande, said whatever Eurogroup decision is Greek people will have oxygen nxt wk, will survive! |
| 5.38pm BST | |
| 17:38 | |
| ECB: closely monitoring developments | ECB: closely monitoring developments |
| The European Central Bank has just tweeted that it will ‘hold a meeting in due course’ to discuss Greece. | The European Central Bank has just tweeted that it will ‘hold a meeting in due course’ to discuss Greece. |
| The Governing Council of the ECB will hold a meeting in due course to discuss the situation. The ECB is closely monitoring developments. | The Governing Council of the ECB will hold a meeting in due course to discuss the situation. The ECB is closely monitoring developments. |
| Not a surprise that they’re ‘closely monitoring’ events, given the ECB has provided €89bn of emergency liquidity to keep Greece’s banks running. | Not a surprise that they’re ‘closely monitoring’ events, given the ECB has provided €89bn of emergency liquidity to keep Greece’s banks running. |
| Not forgetting its own exposure to Greece. | Not forgetting its own exposure to Greece. |
| 5.31pm BST | |
| 17:31 | |
| Here’s the full statement from the eurogroup (excluding Greece): | Here’s the full statement from the eurogroup (excluding Greece): |
| Since the 20 February 2015 agreement of the Eurogroup on the extension of the current financial assistance arrangement, intensive negotiations have taken place between the institutions and the Greek authorities to achieve a successful conclusion of the review. Given the prolonged deadlock in negotiations and the urgency of the situation, institutions have put forward a comprehensive proposal on policy conditionality, making use of the given flexibility within the current arrangement. | Since the 20 February 2015 agreement of the Eurogroup on the extension of the current financial assistance arrangement, intensive negotiations have taken place between the institutions and the Greek authorities to achieve a successful conclusion of the review. Given the prolonged deadlock in negotiations and the urgency of the situation, institutions have put forward a comprehensive proposal on policy conditionality, making use of the given flexibility within the current arrangement. |
| Regrettably, despite efforts at all levels and full support of the Eurogroup, this proposal has been rejected by the Greek authorities who broke off the programme negotiations late on the 26 June unilaterally. The Eurogroup recalls the significant financial transfers and support provided to Greece over the last years. The Eurogroup has been open until the very last moment to further support the Greek people through a continued growth-oriented programme. | Regrettably, despite efforts at all levels and full support of the Eurogroup, this proposal has been rejected by the Greek authorities who broke off the programme negotiations late on the 26 June unilaterally. The Eurogroup recalls the significant financial transfers and support provided to Greece over the last years. The Eurogroup has been open until the very last moment to further support the Greek people through a continued growth-oriented programme. |
| The Eurogroup takes note of the decision of the Greek government to put forward a proposal to call for a referendum, which is expected to take place on Sunday July 5, which is after the expiration of the programme period. The current financial assistance arrangement with Greece will expire on 30 June 2015, as well as all agreements related to the current Greek programme including the transfer by euro area Member States of SMP and ANFA equivalent profits. | The Eurogroup takes note of the decision of the Greek government to put forward a proposal to call for a referendum, which is expected to take place on Sunday July 5, which is after the expiration of the programme period. The current financial assistance arrangement with Greece will expire on 30 June 2015, as well as all agreements related to the current Greek programme including the transfer by euro area Member States of SMP and ANFA equivalent profits. |
| The euro area authorities stand ready to do whatever is necessary to ensure financial stability of the euro area. [END] | The euro area authorities stand ready to do whatever is necessary to ensure financial stability of the euro area. [END] |
| seems greece just lost €3.3 bn in SMP profits, disappears with bailout expiry on tuesday - eurogroup statement (minus greece) | seems greece just lost €3.3 bn in SMP profits, disappears with bailout expiry on tuesday - eurogroup statement (minus greece) |
| Pretty much everything you need to know about #Greece today in one footnote. #eurogroup pic.twitter.com/04SUMe0ZyY | Pretty much everything you need to know about #Greece today in one footnote. #eurogroup pic.twitter.com/04SUMe0ZyY |
| 5.23pm BST | |
| 17:23 | |
| Varoufakis: It's a sad day for Europe | Varoufakis: It's a sad day for Europe |
| Greece’s finance minister then headed to the exit door of the commission. | Greece’s finance minister then headed to the exit door of the commission. |
| As he left, one reporter asked “Is this a sad day for you?” | As he left, one reporter asked “Is this a sad day for you?” |
| Yanis Varoufakis replied instantly: | Yanis Varoufakis replied instantly: |
| It’s a sad day for Europe, but we will overcome it. | It’s a sad day for Europe, but we will overcome it. |
| Extraordinary #Eurogroup Doorstep #Greece @yanisvaroufakis "This is a sad day for Europe" http://t.co/ekjKDNoDBr pic.twitter.com/iQwQ0ZnJYX | Extraordinary #Eurogroup Doorstep #Greece @yanisvaroufakis "This is a sad day for Europe" http://t.co/ekjKDNoDBr pic.twitter.com/iQwQ0ZnJYX |
| 5.20pm BST | |
| 17:20 | |
| And with that, Yanis Varoufakis’s Eurogroup press conference ends. Will there ever be another one? | And with that, Yanis Varoufakis’s Eurogroup press conference ends. Will there ever be another one? |
| 5.15pm BST | |
| 17:15 | |
| Finally, Varoufakis confirms that he spoke with the head of the European Central Bank, Mario Draghi, but gives no more details. | Finally, Varoufakis confirms that he spoke with the head of the European Central Bank, Mario Draghi, but gives no more details. |
| 5.14pm BST | |
| 17:14 | |
| You have to hand it to @yanisvaroufakis. Still has the calm aura of a university lecturer even as Greece is on brink of bankruptcy/euro exit | You have to hand it to @yanisvaroufakis. Still has the calm aura of a university lecturer even as Greece is on brink of bankruptcy/euro exit |
| 5.13pm BST | |
| 17:13 | |
| Varoufakis says that the eurogroup made a ‘comprehensive’ proposals two days ago, and that’s what we will put to the Greek people. | Varoufakis says that the eurogroup made a ‘comprehensive’ proposals two days ago, and that’s what we will put to the Greek people. |
| And we are leaving the door open for that proposal to be improved -- no ambiguity there. | And we are leaving the door open for that proposal to be improved -- no ambiguity there. |
| We were asked whether to say yes, or no, and as democrats we are asking the people what we should. | We were asked whether to say yes, or no, and as democrats we are asking the people what we should. |
| And on the issue of Grexit, Varoufakis insists:: | And on the issue of Grexit, Varoufakis insists:: |
| Anyone who says that this referendum is about the euro is putting a very shaky interpretation on a clear fact - there are no provisions for exit from the monetary union. | Anyone who says that this referendum is about the euro is putting a very shaky interpretation on a clear fact - there are no provisions for exit from the monetary union. |
| 5.09pm BST | |
| 17:09 | |
| More Varoufakis: Greece was "not invited" to second part of Eurogroup meetring tonight #Greece | More Varoufakis: Greece was "not invited" to second part of Eurogroup meetring tonight #Greece |
| 5.08pm BST | |
| 17:08 | |
| Greece’s finance minister denies that the July 5 referendum would eb about eurozone membership: | Greece’s finance minister denies that the July 5 referendum would eb about eurozone membership: |
| 5.04pm BST | |
| 17:04 | |
| Varoufakis: We don't have mandate to reject the deal. We still have day-night-day for better agreement # Greece pic.twitter.com/T65o4CNlb9 | Varoufakis: We don't have mandate to reject the deal. We still have day-night-day for better agreement # Greece pic.twitter.com/T65o4CNlb9 |
| 5.03pm BST | |
| 17:03 | |
| Varoufakis claims that a deal can still be reached by Tuesday -- adding that the Greek government could even support it if creditors offered better terms. | Varoufakis claims that a deal can still be reached by Tuesday -- adding that the Greek government could even support it if creditors offered better terms. |
| 5.01pm BST | |
| 17:01 | |
| The Greek finance minister says he would abide by the will of the people in next Sunday’s vote: | The Greek finance minister says he would abide by the will of the people in next Sunday’s vote: |
| Varoufakis: ,,If the Greek people say yes, we will sign the agreement." | Varoufakis: ,,If the Greek people say yes, we will sign the agreement." |
| 5.00pm BST | |
| 17:00 | |
| Varoufakis: We couldn't accept creditors' proposals | Varoufakis: We couldn't accept creditors' proposals |
| Yanis Varoufakis is now giving a press conference in Brussels. He is telling reporters that Greece couldn’t accept the recessionary consequences of the proposals from its lenders. | Yanis Varoufakis is now giving a press conference in Brussels. He is telling reporters that Greece couldn’t accept the recessionary consequences of the proposals from its lenders. |
| Nor did we have the mandate to reject them - only the Greek people could decide. | Nor did we have the mandate to reject them - only the Greek people could decide. |
| And he criticises Greece’s creditors for trying to drag Greece back to its old bailout terms rather than allowing it to breath and return to growth. | And he criticises Greece’s creditors for trying to drag Greece back to its old bailout terms rather than allowing it to breath and return to growth. |
| He claims that there is still time to improve the proposals - and that Greece would work ‘night and day’ to achieve this. | He claims that there is still time to improve the proposals - and that Greece would work ‘night and day’ to achieve this. |
| And Varoufakis ends by attacking his fellow finance ministers: | And Varoufakis ends by attacking his fellow finance ministers: |
| The refusal of the eurogroup today to endorse our request for an extension of this agreement for a few days, a couple of weeks, to allow the Greek people to vote on their proposals - even when there is a very high probability that Greeks will go against our recommendation and vote yes - will certainly damage the credibility of the eurogroup as a democratic union of partner member state. | The refusal of the eurogroup today to endorse our request for an extension of this agreement for a few days, a couple of weeks, to allow the Greek people to vote on their proposals - even when there is a very high probability that Greeks will go against our recommendation and vote yes - will certainly damage the credibility of the eurogroup as a democratic union of partner member state. |
| I’m very much afraid that damage will be permanent. | I’m very much afraid that damage will be permanent. |
| Reuters has snapped the key points: | Reuters has snapped the key points: |
| 4.49pm BST | |
| 16:49 | |
| A final question about the consequences if the Greek people were to vote Yes vote in the referendum (ie, to accept the creditors offer) | A final question about the consequences if the Greek people were to vote Yes vote in the referendum (ie, to accept the creditors offer) |
| Dijsselbloem: Much to our regret, the Greek authorities have rejected what was on the table even though it wasn’t finished. | Dijsselbloem: Much to our regret, the Greek authorities have rejected what was on the table even though it wasn’t finished. |
| In the meantime there are already major risks for the Greek government handle. | In the meantime there are already major risks for the Greek government handle. |
| And if they vote yes, the question is ‘who are we working with to implement the programme?” | And if they vote yes, the question is ‘who are we working with to implement the programme?” |
| 4.45pm BST | |
| 16:45 | |
| Will Greece be in the room when you reconvene in a few minutes? | Will Greece be in the room when you reconvene in a few minutes? |
| And did you discuss the implications of Greece defaulting on its 6.7bn euro payment to the ECB on July 20? | And did you discuss the implications of Greece defaulting on its 6.7bn euro payment to the ECB on July 20? |
| Dijsselbloem declines to speculate, but confirms that Greece won’t be in the room when the other ministers discuss what steps to protect themselves. | Dijsselbloem declines to speculate, but confirms that Greece won’t be in the room when the other ministers discuss what steps to protect themselves. |
| Steps that eurozone needs to take to protect itself, talks without Greece, @J_Dijsselbloem | Steps that eurozone needs to take to protect itself, talks without Greece, @J_Dijsselbloem |
| Updated | |
| at 4.45pm BST | |
| 4.43pm BST | |
| 16:43 | |
| The Greek government must meet its obligations to its creditors, says Dijsselbloem. That responsibility doesn’t go away. | The Greek government must meet its obligations to its creditors, says Dijsselbloem. That responsibility doesn’t go away. |
| 4.40pm BST | |
| 16:40 | |
| Can emergency liquidity still be provided to the Greek banks once the programme has expired? | Can emergency liquidity still be provided to the Greek banks once the programme has expired? |
| Only the ECB governing council can answer that question, says Dijsselbloem. | Only the ECB governing council can answer that question, says Dijsselbloem. |
| 4.39pm BST | |
| 16:39 | |
| If the programme expires on 30 June, what are the Greek people going to vote on? | If the programme expires on 30 June, what are the Greek people going to vote on? |
| You should ask the Greek government, says Dijsselbloem. I cannot answer it. | You should ask the Greek government, says Dijsselbloem. I cannot answer it. |
| 4.38pm BST | |
| 16:38 | |
| Is there anything the Greek people can do to stay in the eurozone? | Is there anything the Greek people can do to stay in the eurozone? |
| Right now, a referendum on this problem, with a ‘negative advice’ is in the Athens parliament, Dijsselbloem replies. | Right now, a referendum on this problem, with a ‘negative advice’ is in the Athens parliament, Dijsselbloem replies. |
| Greek MPs need to understand that the package wasn’t completed - there is no comprehensive package from the eurogroup - and need to understand the risks that are ahead in the coming weeks. | Greek MPs need to understand that the package wasn’t completed - there is no comprehensive package from the eurogroup - and need to understand the risks that are ahead in the coming weeks. |
| I regret those risks, but they are there. | I regret those risks, but they are there. |
| The Greek parliament needs to consider where we are in the process, if they’ve been properly informed about the programme, and what is ahead. | The Greek parliament needs to consider where we are in the process, if they’ve been properly informed about the programme, and what is ahead. |
| Only then can they take a ‘wise decision’. | Only then can they take a ‘wise decision’. |
| 4.36pm BST | |
| 16:36 | |
| There are no easy programmes - if the Greek government can’t take that message to their people they have a credibility problem, Dijsselbloem concludes. | There are no easy programmes - if the Greek government can’t take that message to their people they have a credibility problem, Dijsselbloem concludes. |
| 4.35pm BST | |
| 16:35 | |
| It is not clear how the Greek government will survive without funding, Dijsselbloem adds. | It is not clear how the Greek government will survive without funding, Dijsselbloem adds. |
| 4.34pm BST | |
| 16:34 | |
| Historic moment here in Brussels. The 19 member eurogroup has now effectively become 18 members, w/o Greece pic.twitter.com/XpZBMXIvXT | Historic moment here in Brussels. The 19 member eurogroup has now effectively become 18 members, w/o Greece pic.twitter.com/XpZBMXIvXT |
| 4.33pm BST | |
| 16:33 | |
| Onto questions: | Onto questions: |
| What would a yes vote mean? | What would a yes vote mean? |
| Many ministers asked our Greek colleague that, Dijsselbloem replies. And he said that if the people voted yes, then he and the government would immediately implement it. | Many ministers asked our Greek colleague that, Dijsselbloem replies. And he said that if the people voted yes, then he and the government would immediately implement it. |
| But there is a “great” problem of credibility. We have found that such programmes only work if the government supports the measure being implemented. | But there is a “great” problem of credibility. We have found that such programmes only work if the government supports the measure being implemented. |
| Updated | |
| at 4.34pm BST | |
| 4.31pm BST | |
| 16:31 | |
| Dijsselbloem: Greek program will expire on Tuesday night | Dijsselbloem: Greek program will expire on Tuesday night |
| Dijsselbloem says that talks were still continuing between Greece and the creditors last night, when the Greek delegation suddenly had to leave the room. | Dijsselbloem says that talks were still continuing between Greece and the creditors last night, when the Greek delegation suddenly had to leave the room. |
| The other 18 members of the eurogroup regret the fact that Greece has rejected these last proposals from the institutions, he continues. | The other 18 members of the eurogroup regret the fact that Greece has rejected these last proposals from the institutions, he continues. |
| The proposals on the table had already offered the “maximum” flexibility possible, he continues. | The proposals on the table had already offered the “maximum” flexibility possible, he continues. |
| But the proposals weren’t concluded, they weren’t finished, but yet the Greek government has rejected them and put them to the Greek people. | But the proposals weren’t concluded, they weren’t finished, but yet the Greek government has rejected them and put them to the Greek people. |
| Given that situation, however regrettable, the Greek programme will expire on Tuesday night. | Given that situation, however regrettable, the Greek programme will expire on Tuesday night. |
| 4.28pm BST | |
| 16:28 | |
| Press conference underway | Press conference underway |
| And we’re off. | And we’re off. |
| Dijsselbloem says that a statement is being issued shortly, from 18 ministers. Not supported by Greece. | Dijsselbloem says that a statement is being issued shortly, from 18 ministers. Not supported by Greece. |
| We will immediately have a second meeting after this press conference, to discuss consequences and to prepare for whatever is needed to preserve the stability of the eurozone. | We will immediately have a second meeting after this press conference, to discuss consequences and to prepare for whatever is needed to preserve the stability of the eurozone. |
| 4.26pm BST | |
| 16:26 | |
| Jeroen Dijsselbloem, president of the Eurogroup, has been spotted heading to the press room, and he doesn’t look very happy: | Jeroen Dijsselbloem, president of the Eurogroup, has been spotted heading to the press room, and he doesn’t look very happy: |
| D-boom on his way | D-boom on his way |
| Face like thunder | Face like thunder |
| 4.20pm BST | |
| 16:20 | |
| The press room is starting to fill up.... reminder, there’s a live stream here. | The press room is starting to fill up.... reminder, there’s a live stream here. |
| 4.16pm BST | |
| 16:16 | |
| Serious levels of confusion in Brussels right now -- sounds like all 19 finance ministers are back in the room, but the Greek side might yet depart early. | Serious levels of confusion in Brussels right now -- sounds like all 19 finance ministers are back in the room, but the Greek side might yet depart early. |
| I've been told that the #Eurogroup has resumed WITH @yanisvaroufakis, but he may leave it later on. No press conf yet #Greece #Greferendum | I've been told that the #Eurogroup has resumed WITH @yanisvaroufakis, but he may leave it later on. No press conf yet #Greece #Greferendum |
| And apparently there might be a press conference with Jeroen Dijsselbloem soon after all. | And apparently there might be a press conference with Jeroen Dijsselbloem soon after all. |
| 4.11pm BST | |
| 16:11 | |
| Reuters reporting that Eurogroup ministers are planning to meet without Greece shortly. | Reuters reporting that Eurogroup ministers are planning to meet without Greece shortly. |
| Updated | |
| at 4.14pm BST | |
| 4.07pm BST | |
| 16:07 | |
| There’s confusion in Brussels as to whether we’re going to get a press conference now, or now. | There’s confusion in Brussels as to whether we’re going to get a press conference now, or now. |
| Dijsselblscreens presser was announced on screens, now cancelled and press room empties. Madness | Dijsselblscreens presser was announced on screens, now cancelled and press room empties. Madness |
| 4.04pm BST | |
| 16:04 | |
| Eurogroup meeting to continue 'without Greece' | Eurogroup meeting to continue 'without Greece' |
| Brussels reporters have heard that Greece’s delegation is leaving today’s Eurogroup meeting, following the rejection of its request for an extension: | Brussels reporters have heard that Greece’s delegation is leaving today’s Eurogroup meeting, following the rejection of its request for an extension: |
| I'm being told #Eurogroup break will be a short one with 18 reconvening without #Greece delegation after. | I'm being told #Eurogroup break will be a short one with 18 reconvening without #Greece delegation after. |
| Confirmed info. #Eurogroup will continue without @yanisvaroufakis | Confirmed info. #Eurogroup will continue without @yanisvaroufakis |
| Updated | |
| at 4.05pm BST | |
| 3.58pm BST | |
| 15:58 | |
| AFP says Greece’s request for an extension has been turned down: | AFP says Greece’s request for an extension has been turned down: |
| Eurozone ministers have rejected Greece bailout extension, sources tell @AFP | Eurozone ministers have rejected Greece bailout extension, sources tell @AFP |
| 3.53pm BST | |
| 15:53 | |
| Stefan Leifert of ZDF, the German TV station, reports that Yanis Varoufakis is speaking to the European Central Bank team during this pause in negotiations, while Germany’s Wolfgang Schäuble is with the IMF’s Christine Lagarde. | Stefan Leifert of ZDF, the German TV station, reports that Yanis Varoufakis is speaking to the European Central Bank team during this pause in negotiations, while Germany’s Wolfgang Schäuble is with the IMF’s Christine Lagarde. |
| Eurogruppe unterbrochen. Varoufakis redet mit EZB. Schäuble mit Lagarde. | Eurogruppe unterbrochen. Varoufakis redet mit EZB. Schäuble mit Lagarde. |
| 3.49pm BST | |
| 15:49 | |
| Wait wait wait!! #Eurogroup is taking a break, press conferences -Dijsselbloem, Varoufakis- to start soon, say diplomats sources #Greece | Wait wait wait!! #Eurogroup is taking a break, press conferences -Dijsselbloem, Varoufakis- to start soon, say diplomats sources #Greece |
| EbS, the Brussels TV channel, has just started transmitting from the press conference room. It’s virtually empty right now, but that might mean something is about to happen. | EbS, the Brussels TV channel, has just started transmitting from the press conference room. It’s virtually empty right now, but that might mean something is about to happen. |
| 3.42pm BST | |
| 15:42 | |
| The latest word from Brussels is that Greece will not be granted the one-month extension which it is seeking: | The latest word from Brussels is that Greece will not be granted the one-month extension which it is seeking: |
| greek govt wants no vote. but wants 1-month unconditional bailout extension in case it loses. no wonder they say bizarre via @Elbarbie | greek govt wants no vote. but wants 1-month unconditional bailout extension in case it loses. no wonder they say bizarre via @Elbarbie |
| german govt sources say clear eurogroup consensus on no bailout extension via @StefanLeifert | german govt sources say clear eurogroup consensus on no bailout extension via @StefanLeifert |
| And that would mean that the current bailout would expire on Tuesday, 30 June. | And that would mean that the current bailout would expire on Tuesday, 30 June. |
| Eurogroup is presently discussing the greek referendum. "But we will soon start discussing Plan B", we hear from inside the Eurogroup. | Eurogroup is presently discussing the greek referendum. "But we will soon start discussing Plan B", we hear from inside the Eurogroup. |
| Updated | |
| at 3.44pm BST | |
| 3.24pm BST | |
| 15:24 | |
| Great pic by @Brussels_PJ @yanisvaroufakis arrives at eurogroup pic.twitter.com/ysEr1mEq3l | Great pic by @Brussels_PJ @yanisvaroufakis arrives at eurogroup pic.twitter.com/ysEr1mEq3l |
| 3.17pm BST | |
| 15:17 | |
| A reminder that you can watch the Greek debate here. | A reminder that you can watch the Greek debate here. |
| If you tune in now, you can see Andreas Loverdos of the left-wing Pasok party heavily criticising the decision to hold a referendum: | If you tune in now, you can see Andreas Loverdos of the left-wing Pasok party heavily criticising the decision to hold a referendum: |
| loverdos accuses tsipras is trying to hide behind the citizens. | loverdos accuses tsipras is trying to hide behind the citizens. |
| loverdos: to keep his party together, the PM is dividing the country. we say yes to europe, yes to euro, no to this govt. | loverdos: to keep his party together, the PM is dividing the country. we say yes to europe, yes to euro, no to this govt. |
| 3.09pm BST | |
| 15:09 | |
| AFP reporter Roland Jackson has tweeted a picture of one Athens cash machine that ran dry, although he quickly found another that was working: | AFP reporter Roland Jackson has tweeted a picture of one Athens cash machine that ran dry, although he quickly found another that was working: |
| No money left at this Greek ATM in #athens #greece ... But the next one along worked fine... #greferendum pic.twitter.com/6clj2bPMFV | No money left at this Greek ATM in #athens #greece ... But the next one along worked fine... #greferendum pic.twitter.com/6clj2bPMFV |
| Here’s a similar tale from the Greek capital: | Here’s a similar tale from the Greek capital: |
| 4 of the 5 ATMs I tried would give no money. There's been a bankrun; Monday will be fun for banks, if they open. #Greece #referendum | 4 of the 5 ATMs I tried would give no money. There's been a bankrun; Monday will be fun for banks, if they open. #Greece #referendum |
| The machine in the Athens parliament still appears to be running, though: | The machine in the Athens parliament still appears to be running, though: |
| No good sign: a queue even at the ATM inside the Athens parliament. #Greece pic.twitter.com/ObZUVDiRxZ | No good sign: a queue even at the ATM inside the Athens parliament. #Greece pic.twitter.com/ObZUVDiRxZ |
| 3.00pm BST | |
| 15:00 | |
| Tensions on the streets of Athens | Tensions on the streets of Athens |
| Jon Henley | Jon Henley |
| Saturday seemed business as usual in central Athens, my colleague Jon Henley writes. | Saturday seemed business as usual in central Athens, my colleague Jon Henley writes. |
| Shoppers are out in force, and a steady stream of people taking cash out of many ATMs but – except for National Bank branches, where pensions deposited last night were being withdrawn today – nothing you could reasonably call a long queue. | Shoppers are out in force, and a steady stream of people taking cash out of many ATMs but – except for National Bank branches, where pensions deposited last night were being withdrawn today – nothing you could reasonably call a long queue. |
| Customers were, though, understandably starting to get a bit fed up with all the attention. At a Eurobank branch ATM on Syntagma Square there was a furious row between two photographers and four or five people waiting to take out money. | Customers were, though, understandably starting to get a bit fed up with all the attention. At a Eurobank branch ATM on Syntagma Square there was a furious row between two photographers and four or five people waiting to take out money. |
| “I wasn’t taking out my savings, actually: I still think this will work out okay eventually,” said Iannis Kairis, a web developer. | “I wasn’t taking out my savings, actually: I still think this will work out okay eventually,” said Iannis Kairis, a web developer. |
| “But if I was, I wouldn’t want my photograph taken. It’s normal.” | “But if I was, I wouldn’t want my photograph taken. It’s normal.” |
| Shoppers on nearby Ermou, one of central Athens’ main shopping streets, seemed mostly relaxed – if unsure about what next week might hold. “I don’t have any money in the bank – I didn’t have much to start with, but there’s none there now,” said Dimitra, a primary school teacher, who asked not to be fully named. “But I think we’ll vote to stay in the euro. Both sides have been playing games.” | Shoppers on nearby Ermou, one of central Athens’ main shopping streets, seemed mostly relaxed – if unsure about what next week might hold. “I don’t have any money in the bank – I didn’t have much to start with, but there’s none there now,” said Dimitra, a primary school teacher, who asked not to be fully named. “But I think we’ll vote to stay in the euro. Both sides have been playing games.” |
| Haris Sakelios, who is unemployed, said he was “quite sure” Greeks would vote No in next Sunday’s referendum – but that did not necessarily mean Greece would end up leaving the euro. | Haris Sakelios, who is unemployed, said he was “quite sure” Greeks would vote No in next Sunday’s referendum – but that did not necessarily mean Greece would end up leaving the euro. |
| “People are tired,” he said, adding: | “People are tired,” he said, adding: |
| “It’s enough now. So they will vote No. But I think if (prime minister Alexis) Tsipras goes back to the table in Brussels with a referendum result, it will show them he is not alone. He will be stronger.” | “It’s enough now. So they will vote No. But I think if (prime minister Alexis) Tsipras goes back to the table in Brussels with a referendum result, it will show them he is not alone. He will be stronger.” |
| Spyros Vasilakis, a university teacher, was less confident. “I have no idea what will happen next week,” he said. | Spyros Vasilakis, a university teacher, was less confident. “I have no idea what will happen next week,” he said. |
| “The banks may close. The institutions may withdraw their proposal, in which case what would we technically be voting on? It’s a confused picture right now.” | “The banks may close. The institutions may withdraw their proposal, in which case what would we technically be voting on? It’s a confused picture right now.” |
| Despina Moragianis, who had been out to a shopping mall in the northern suburbs, said the queues at the banks there were: | Despina Moragianis, who had been out to a shopping mall in the northern suburbs, said the queues at the banks there were: |
| “Long. I’ve not seen them like that for quite a while. And there were lines at a couple of petrol stations. I think people are concerned, whatever they say.” | “Long. I’ve not seen them like that for quite a while. And there were lines at a couple of petrol stations. I think people are concerned, whatever they say.” |
| This courtesy of @peristeraRa. pic.twitter.com/t9sOUoepkx | This courtesy of @peristeraRa. pic.twitter.com/t9sOUoepkx |
| 2.52pm BST | |
| 14:52 | |
| Summary: Eurozone ministers debating Greek bailout now | Summary: Eurozone ministers debating Greek bailout now |
| Time for a recap: | Time for a recap: |
| Eurozone finance ministers are debating their next move after Greece took the shock decision to announce a referendum on its bailout programme. | Eurozone finance ministers are debating their next move after Greece took the shock decision to announce a referendum on its bailout programme. |
| Arriving in Brussels, the Eurogroup president, Jeroen Dijsselbloem, told reporters he was saddened by the move, following weeks of negotiations, and just five days before the bailout ends. | Arriving in Brussels, the Eurogroup president, Jeroen Dijsselbloem, told reporters he was saddened by the move, following weeks of negotiations, and just five days before the bailout ends. |
| Dijsselbloem suggested that the Eurogroup may have reached the end of the line with Greece, saying: | Dijsselbloem suggested that the Eurogroup may have reached the end of the line with Greece, saying: |
| I am very negatively surprised by today’s decision by the Greek government | I am very negatively surprised by today’s decision by the Greek government |
| They have apparently rejected the final proposals from the institutions. | They have apparently rejected the final proposals from the institutions. |
| Germany’s Wolfgang Schauble also said Greece had ended talks. And several other ministers suggested it could be time for Europe to consider Plan B, ie, how to handle a Greek default, and potential exit from the single currency. | Germany’s Wolfgang Schauble also said Greece had ended talks. And several other ministers suggested it could be time for Europe to consider Plan B, ie, how to handle a Greek default, and potential exit from the single currency. |
| The IMF’s Christine Lagarde, though, said work would continue with Greece. | The IMF’s Christine Lagarde, though, said work would continue with Greece. |
| Yanis Varoufakis, Greece’s finance minister, is expected to ask the Eurogroup for a small extension to allow the referendum to be held. | Yanis Varoufakis, Greece’s finance minister, is expected to ask the Eurogroup for a small extension to allow the referendum to be held. |
| In Greece there have been long queues at some cash machines in Athens as people react to Alexisis Tsipras’s shock announcement late last night. At least one bank unexpectedly didn’t open, apparently due to security concerns, leaving a group of people waiting outside. | In Greece there have been long queues at some cash machines in Athens as people react to Alexisis Tsipras’s shock announcement late last night. At least one bank unexpectedly didn’t open, apparently due to security concerns, leaving a group of people waiting outside. |
| But activity at cash machines in other areas has reportedly been calm, and a top bank official has insisted that machines are being replenished as needed. | But activity at cash machines in other areas has reportedly been calm, and a top bank official has insisted that machines are being replenished as needed. |
| Greek MPs will vote late tonight (midnight Athens time) on whether to hold the referendum. | Greek MPs will vote late tonight (midnight Athens time) on whether to hold the referendum. |
| Opening today’s debate, the interior minister, Nikos Voutsis, urged all parties to back the plan. | Opening today’s debate, the interior minister, Nikos Voutsis, urged all parties to back the plan. |
| But some opposition parties are refusing. New Democracy, the rightwing party which lost power in January, has urged the Greek people to vote yes if the referendum is held: | But some opposition parties are refusing. New Democracy, the rightwing party which lost power in January, has urged the Greek people to vote yes if the referendum is held: |
| voridis: it is clear what the greek people will say: yes to europe and no to the government. | voridis: it is clear what the greek people will say: yes to europe and no to the government. |
| voridis ends with a rhetorical flourish about the patriotic vote being yes to europe | voridis ends with a rhetorical flourish about the patriotic vote being yes to europe |
| And the centrist To Potami opposition party also criticised the plan: | And the centrist To Potami opposition party also criticised the plan: |
| lykoudis: government is asking the people to pull the trigger on their suicide | lykoudis: government is asking the people to pull the trigger on their suicide |
| Updated | |
| at 3.06pm BST | |
| 2.24pm BST | |
| 14:24 | |
| A couple more photos from inside the Eurogroup meeting on Greece: | A couple more photos from inside the Eurogroup meeting on Greece: |
| Updated | |
| at 3.07pm BST | |
| 2.19pm BST | |
| 14:19 | |
| The FT’s Peter Spiegel has got hold of the latest offer made by Greece’s creditors, and explains how there’s really no new money on offer: | The FT’s Peter Spiegel has got hold of the latest offer made by Greece’s creditors, and explains how there’s really no new money on offer: |
| On Friday, there was a bit of buzz that creditors had tabled a new €15.3bn offer to Greece to extend the current bailout through the end of November. But in reality, there was nothing new to it at all. | On Friday, there was a bit of buzz that creditors had tabled a new €15.3bn offer to Greece to extend the current bailout through the end of November. But in reality, there was nothing new to it at all. |
| It is essentially all the money left in the bailout, which was presented to Athens in a more fully articulated two-page memo. | It is essentially all the money left in the bailout, which was presented to Athens in a more fully articulated two-page memo. |
| More here. | More here. |
| And here’s the full memo (somewhat crumpled since entering Peter’s tender clutches) | And here’s the full memo (somewhat crumpled since entering Peter’s tender clutches) |
| Remember that "new" €15.3bn offer to #Greece from Friday? Here's why it wasn't new. Leaked memo posted, too: http://t.co/N3zKGuv8DD | Remember that "new" €15.3bn offer to #Greece from Friday? Here's why it wasn't new. Leaked memo posted, too: http://t.co/N3zKGuv8DD |
| Updated | |
| at 3.08pm BST | |
| 2.11pm BST | |
| 14:11 | |
| Here are a a few photos from inside today’s Eurogroup meeting, before it began: | Here are a a few photos from inside today’s Eurogroup meeting, before it began: |
| Updated | |
| at 3.09pm BST | |
| 2.03pm BST | |
| 14:03 | |
| While I was watching the Eurogroup in Brussels, Greece’s prime minister was getting a standing ovation from his MPs as he arrived for today’s referendum debate: | While I was watching the Eurogroup in Brussels, Greece’s prime minister was getting a standing ovation from his MPs as he arrived for today’s referendum debate: |
| Updated | |
| at 3.26pm BST | |
| 2.00pm BST | |
| 14:00 | |
| Newsflash: Yanis Varoufakis has told Reuters that he will ask fellow finance ministers for a bailout extension of “a few weeks” to accommodate the referendum. | Newsflash: Yanis Varoufakis has told Reuters that he will ask fellow finance ministers for a bailout extension of “a few weeks” to accommodate the referendum. |
| Here what they just snapped: | Here what they just snapped: |
| 1.58pm BST | |
| 13:58 | |
| Analysts at Barclays have warned that the referendum plunges Greece into fresh turmoil, whether the result is Yes or No. | Analysts at Barclays have warned that the referendum plunges Greece into fresh turmoil, whether the result is Yes or No. |
| Here’s a flavour of a note they sent to clients this morning: | Here’s a flavour of a note they sent to clients this morning: |
| What happens if Greece votes no? | What happens if Greece votes no? |
| Government officials are currently emphasizing that this is simply a vote on the negotiations and not on the Greek position within the EMU [eurozone] and EU. | Government officials are currently emphasizing that this is simply a vote on the negotiations and not on the Greek position within the EMU [eurozone] and EU. |
| In reality, the two questions are related. We believe that the odds of a Greek exit increase substantially if Greece votes no. And if capital controls have not been imposed by then, they would almost certainly be after 5 July. | In reality, the two questions are related. We believe that the odds of a Greek exit increase substantially if Greece votes no. And if capital controls have not been imposed by then, they would almost certainly be after 5 July. |
| What happens if Greece votes yes? | What happens if Greece votes yes? |
| Every indication is that the existing Greek government is opposed to the creditors’ current terms. | Every indication is that the existing Greek government is opposed to the creditors’ current terms. |
| Consequently, it is very possible that in the event of a yes vote, Greece would face a political crisis, with a new government having to be formed in order to finalize the negotiations and implement the agreed-upon reforms. | Consequently, it is very possible that in the event of a yes vote, Greece would face a political crisis, with a new government having to be formed in order to finalize the negotiations and implement the agreed-upon reforms. |
| 1.46pm BST | |
| 13:46 | |
| Yanis Varoufakis’s press officer has hit back at Peter Kazimir’s claim that the Greek finance minister lectures the rest of the eurogroup: | Yanis Varoufakis’s press officer has hit back at Peter Kazimir’s claim that the Greek finance minister lectures the rest of the eurogroup: |
| "Lecturing" is a common excuse for shrugging off well-supported arguments that participants are unable to refute. @RaoulRuparel @OpenEurope | "Lecturing" is a common excuse for shrugging off well-supported arguments that participants are unable to refute. @RaoulRuparel @OpenEurope |
| 1.36pm BST | |
| 13:36 | |
| Eurozone finance ministers have begun debating the Greek situation. | Eurozone finance ministers have begun debating the Greek situation. |
| The #Eurogroup begins. | The #Eurogroup begins. |
| 1.31pm BST | |
| 13:31 | |
| Slovakia’s finance minister, Peter Kažimír, looks like a man who’d rather be anywhere else than the Eurogroup (his fifth in under two weeks). | Slovakia’s finance minister, Peter Kažimír, looks like a man who’d rather be anywhere else than the Eurogroup (his fifth in under two weeks). |
| The Greek government was elected to make decisions, so they should make them, says Kažimír. | The Greek government was elected to make decisions, so they should make them, says Kažimír. |
| Greece can hold a referendum on anything it wants, but if they reject the package on the table, then the programme is over. | Greece can hold a referendum on anything it wants, but if they reject the package on the table, then the programme is over. |
| Asked what he expects from Yanis Varoufakis, he replies “the same, the lecturing”, before going into the eurogroup. | Asked what he expects from Yanis Varoufakis, he replies “the same, the lecturing”, before going into the eurogroup. |
| 1.28pm BST | |
| 13:28 | |
| Ireland’s Michael Noonan says he is “disappointed” that Greece appears to have unilaterally ended negotiations. | Ireland’s Michael Noonan says he is “disappointed” that Greece appears to have unilaterally ended negotiations. |
| He had hoped that finance ministers would have closed the gaps between the two competing proposals at today’s meeting. | He had hoped that finance ministers would have closed the gaps between the two competing proposals at today’s meeting. |
| I don’t know what happens next week, it’s impossible to speculate. We’re entering totally uncharted waters, Noonan adds. | I don’t know what happens next week, it’s impossible to speculate. We’re entering totally uncharted waters, Noonan adds. |
| 1.25pm BST | |
| 13:25 | |
| Schauble: Greece appear to have ended talks | Schauble: Greece appear to have ended talks |
| Germany’s finance minister, Wolfgang Schäuble, arrives, and tells a scrum of reporters that there appears to be no basis for further talks with Greece : | Germany’s finance minister, Wolfgang Schäuble, arrives, and tells a scrum of reporters that there appears to be no basis for further talks with Greece : |
| However: | However: |
| The Greeks appeared to have ended negotiations said German fin min #Schauble . #Greferendum #Eurogroup #Greece pic.twitter.com/vRkZ4yGdAp | The Greeks appeared to have ended negotiations said German fin min #Schauble . #Greferendum #Eurogroup #Greece pic.twitter.com/vRkZ4yGdAp |
| 1.22pm BST | |
| 13:22 | |
| There have been some rather grim faces among the finance ministers arriving at today’s Eurogroup meeting: | There have been some rather grim faces among the finance ministers arriving at today’s Eurogroup meeting: |
| Stubb (Finland) and Guindos (Spain) both used same expression: 'Plan B' is fast turning into 'Plan A'. Not looking good at all. #Greece | Stubb (Finland) and Guindos (Spain) both used same expression: 'Plan B' is fast turning into 'Plan A'. Not looking good at all. #Greece |
| 1.19pm BST | |
| 13:19 | |
| Finland: Plan B is becoming Plan A for Greece | Finland: Plan B is becoming Plan A for Greece |
| Finland’s Alex Stubb has arrived at the Eurogroup, and told reporters that the referendum means we are “closing the door” on future negotiations. | Finland’s Alex Stubb has arrived at the Eurogroup, and told reporters that the referendum means we are “closing the door” on future negotiations. |
| Stubb says: | Stubb says: |
| I think there is a clear majority-cum-consensus inside the eurogroup that an extension of the programme is out of the question. | I think there is a clear majority-cum-consensus inside the eurogroup that an extension of the programme is out of the question. |
| I think that as an avid pro-European, yesterdays announcement of a referendum was an unpleasant surprise, and I feel quite sad about the situation, especially from the perspective of the Greek people | I think that as an avid pro-European, yesterdays announcement of a referendum was an unpleasant surprise, and I feel quite sad about the situation, especially from the perspective of the Greek people |
| And speaking to a second reporter inside the building, Stubb adds that: | And speaking to a second reporter inside the building, Stubb adds that: |
| I would argue that Plan B is becoming Plan A. | I would argue that Plan B is becoming Plan A. |
| 1.14pm BST | |
| 13:14 | |
| Spain’s finance minister, Luis de Guindos, says that the decision to call a referendum has made life “more difficult for everyone”, making a successful end to this saga less likely: | Spain’s finance minister, Luis de Guindos, says that the decision to call a referendum has made life “more difficult for everyone”, making a successful end to this saga less likely: |
| Spanish fin min De Guindos said that it's the time that we are closer to a plan B than a plan A. #Eurogroup #Greece #Greferendum | Spanish fin min De Guindos said that it's the time that we are closer to a plan B than a plan A. #Eurogroup #Greece #Greferendum |
| 1.12pm BST | |
| 13:12 | |
| Moscovici: Greece must prove its own will | Moscovici: Greece must prove its own will |
| European commissioner Pierre Moscovici has arrived - and he insists that the game isn’t up: | European commissioner Pierre Moscovici has arrived - and he insists that the game isn’t up: |
| The Commission has always worked on the position that Greece’s place is in the eurozone, says Moscovic: | The Commission has always worked on the position that Greece’s place is in the eurozone, says Moscovic: |
| When I look at where we are, I see that there are differences, but they are quite limited, and they are well identified. | When I look at where we are, I see that there are differences, but they are quite limited, and they are well identified. |
| Where there is a will there is a way, and the Greek government should prove its own will. | Where there is a will there is a way, and the Greek government should prove its own will. |
| Could Greece get the extension it has asked for? | Could Greece get the extension it has asked for? |
| We will hear from the Institutions (IMF, ECB, EC) and we will speak to the Greek finance minister, Yanis Varoufakis. | We will hear from the Institutions (IMF, ECB, EC) and we will speak to the Greek finance minister, Yanis Varoufakis. |
| The proposals on the table are favourable to the Greek government, he insists. | The proposals on the table are favourable to the Greek government, he insists. |
| #Greferendum we need a chat with @yanisvaroufakis. eurogroup decisions depend on what he says - @pierremoscovici | #Greferendum we need a chat with @yanisvaroufakis. eurogroup decisions depend on what he says - @pierremoscovici |
| 1.06pm BST | |
| 13:06 | |
| Lagarde: We will continue to work | Lagarde: We will continue to work |
| Christine Lagarde arrives, looking extremely serious. | Christine Lagarde arrives, looking extremely serious. |
| She starts by expressing the IMF’s condolences and support to the families of the victims who have been killed in the terrorist attacks of recent days (the attacks in Tunisia, Kuwait and France). | She starts by expressing the IMF’s condolences and support to the families of the victims who have been killed in the terrorist attacks of recent days (the attacks in Tunisia, Kuwait and France). |
| On Greece, she says: | On Greece, she says: |
| Together with the other institutions, we’ve always shown flexibility in order to adjust to the new economic and political situation in Greece. | Together with the other institutions, we’ve always shown flexibility in order to adjust to the new economic and political situation in Greece. |
| The porpose of what we’re doing is to restore the stability of the economy in Greece, and restore its financial independence, as in Portugal and Ireland. | The porpose of what we’re doing is to restore the stability of the economy in Greece, and restore its financial independence, as in Portugal and Ireland. |
| And that is what we will continue to do. | And that is what we will continue to do. |
| That is slightly more positive than Dijsselbloem’s statement, that the door is closed: | That is slightly more positive than Dijsselbloem’s statement, that the door is closed: |
| #Greferendum lagarde's stress on 'continuing to work' contrasts with dijsselbloem's 'doors closed' | #Greferendum lagarde's stress on 'continuing to work' contrasts with dijsselbloem's 'doors closed' |
| Lagarde then spells out the IMF’s position: | Lagarde then spells out the IMF’s position: |
| Greece must implement “deep” structural reforms and growth-friendly fiscal consolidation... | Greece must implement “deep” structural reforms and growth-friendly fiscal consolidation... |
| And its partners must provide financial support and ‘debt operation’. | And its partners must provide financial support and ‘debt operation’. |
| Upon arrival at #eurogroup, @Lagarde once again raises need for "debt operation" on the part of Europeans. She means debt relief #Greece | Upon arrival at #eurogroup, @Lagarde once again raises need for "debt operation" on the part of Europeans. She means debt relief #Greece |
| #IMF #Lagarde doesn't say a word about possible extension of #Greece program #Greferendum #Eurogroup pic.twitter.com/BfBfcRUs3P | #IMF #Lagarde doesn't say a word about possible extension of #Greece program #Greferendum #Eurogroup pic.twitter.com/BfBfcRUs3P |
| Updated | |
| at 1.34pm BST | |
| 12.56pm BST | |
| 12:56 | |
| #Greferendum eurogroup finmins sound genuinely surprised. @atsipras has pulled a fast one | #Greferendum eurogroup finmins sound genuinely surprised. @atsipras has pulled a fast one |
| 12.54pm BST | |
| 12:54 | |
| Malta’s finance minister, Edward Scicluna, tells reporters that the referendum has come as a nasty shock to the eurogroup: | Malta’s finance minister, Edward Scicluna, tells reporters that the referendum has come as a nasty shock to the eurogroup: |
| Democratic government have the right to call a referendum, he points out, but: | Democratic government have the right to call a referendum, he points out, but: |
| It’s the timing that is very unfortunate, and that is an understatement. | It’s the timing that is very unfortunate, and that is an understatement. |
| The referendum should have been called months ago, Scicluna argues, once it became clear that the Greek government’s mandate meant it couldn’t accept the proposals on the table. | The referendum should have been called months ago, Scicluna argues, once it became clear that the Greek government’s mandate meant it couldn’t accept the proposals on the table. |
| 12.50pm BST | |
| 12:50 | |
| Goodnight, thanks for playing: Eurogroup chief @J_Dijsselbloem says 'sad' Greek referendum decision 'closes door to further talks' | Goodnight, thanks for playing: Eurogroup chief @J_Dijsselbloem says 'sad' Greek referendum decision 'closes door to further talks' |
| 12.49pm BST | |
| 12:49 | |
| Dijsselbloem: It's a sad day for Greece | Dijsselbloem: It's a sad day for Greece |
| Jeroen Dijsselbloem, head of the eurogroup, has just arrived in Brussels. | Jeroen Dijsselbloem, head of the eurogroup, has just arrived in Brussels. |
| He tells reporters that: | He tells reporters that: |
| I am very negatively surprised by today’s decision by the Greek government | I am very negatively surprised by today’s decision by the Greek government |
| They have apparently rejected the final proposals from the Institutions. | They have apparently rejected the final proposals from the Institutions. |
| Dijsselbloem is also unimpressed that the Greek government is recommending rejecting the proposal: | Dijsselbloem is also unimpressed that the Greek government is recommending rejecting the proposal: |
| That is a sad decision for Greece, for it has closed the door on future talks. | That is a sad decision for Greece, for it has closed the door on future talks. |
| 12.45pm BST | |
| 12:45 | |
| Greece’s finance minister, Yanis Varoufakis, has arrived at the meeting. He smiles at the cameras, but doesn’t speak to the assembled press. | Greece’s finance minister, Yanis Varoufakis, has arrived at the meeting. He smiles at the cameras, but doesn’t speak to the assembled press. |
| Big grin but no comment from @yanisvaroufakis as he enters #Eurogroup | Big grin but no comment from @yanisvaroufakis as he enters #Eurogroup |
| 12.43pm BST | |
| 12:43 | |
| Belgium's finance minister: We must decide on issues today | Belgium's finance minister: We must decide on issues today |
| Belgium’s finance minister, Johan Van Overtveldt, has arrived at the eurogroup meeting in Brussels, and warned that time is running out. | Belgium’s finance minister, Johan Van Overtveldt, has arrived at the eurogroup meeting in Brussels, and warned that time is running out. |
| Obviously June 30 is coming to us very quickly now, he says, calling the referendum a ‘bizarre move’. | Obviously June 30 is coming to us very quickly now, he says, calling the referendum a ‘bizarre move’. |
| Are we going to see capital controls in Greece? | Are we going to see capital controls in Greece? |
| The Eurogroup meeting starts at 2pm. We’ll look at the evidence, and depending on the conclusions, we will take appropriate action, says Van Overtveldt. | The Eurogroup meeting starts at 2pm. We’ll look at the evidence, and depending on the conclusions, we will take appropriate action, says Van Overtveldt. |
| We can no longer prolong whever action we need to take. We will have to decide on issues today. | We can no longer prolong whever action we need to take. We will have to decide on issues today. |
| 12.34pm BST | |
| 12:34 | |
| Finance ministers from centre-right countries are meeting first to discuss Greece, before arriving at the full eurogroup meeting. | Finance ministers from centre-right countries are meeting first to discuss Greece, before arriving at the full eurogroup meeting. |
| That’s via Finland’s Alex Stubb: | That’s via Finland’s Alex Stubb: |
| In Brussels. Beginning with @epp Finance Ministers. Then #Eurogroup. #Greferendum | In Brussels. Beginning with @epp Finance Ministers. Then #Eurogroup. #Greferendum |
| 12.33pm BST | |
| 12:33 | |
| Latest word from Brussels is that eurozone ministers are unlikely to offer Greece an extension at today’s eurogroup: | Latest word from Brussels is that eurozone ministers are unlikely to offer Greece an extension at today’s eurogroup: |
| 12.22pm BST | |
| 12:22 | |
| Open Europe: Capital controls are now likely | Open Europe: Capital controls are now likely |
| Open Europe’s analyst Raoul Ruparel fears that there are few positive outcomes for Greece now. | Open Europe’s analyst Raoul Ruparel fears that there are few positive outcomes for Greece now. |
| As he points out, there is no guarantee that the creditors’ offer of a bailout extension will still be on offer when the referendum takes place (it may not even survive today’s eurogroup meeting) | As he points out, there is no guarantee that the creditors’ offer of a bailout extension will still be on offer when the referendum takes place (it may not even survive today’s eurogroup meeting) |
| He writes: | He writes: |
| No matter what, capital controls and bank holidays will likely be needed in the short term (and possibly longer) in Greece. Even if the referendum gives a positive outcome, this may still provoke uncertainty. | No matter what, capital controls and bank holidays will likely be needed in the short term (and possibly longer) in Greece. Even if the referendum gives a positive outcome, this may still provoke uncertainty. |
| It is not clear whether the deal to be voted on is actually still on the table. Furthermore, Tsipras has set himself up to reject the proposal, so it might be hard to avoid new elections if the people back the creditors. If there is a No vote, this is likely to be seen as a vote for Grexit, since any offer on the table from creditors will be a take it or leave it one. | It is not clear whether the deal to be voted on is actually still on the table. Furthermore, Tsipras has set himself up to reject the proposal, so it might be hard to avoid new elections if the people back the creditors. If there is a No vote, this is likely to be seen as a vote for Grexit, since any offer on the table from creditors will be a take it or leave it one. |
| There remains a small chance that the referendum may not come to pass, if a new deal is offered or the bill is not approved by the Greek Parliament or President. | There remains a small chance that the referendum may not come to pass, if a new deal is offered or the bill is not approved by the Greek Parliament or President. |
| However, given Tsipras’ insistence on the referendum, it would again be hard from him to survive such an event. | However, given Tsipras’ insistence on the referendum, it would again be hard from him to survive such an event. |
| It’s well worth reading the full piece: | It’s well worth reading the full piece: |
| What will shock Greek referendum mean for the Eurozone and Greece? | What will shock Greek referendum mean for the Eurozone and Greece? |
| 12.12pm BST | |
| 12:12 | |
| The government, though, is insisting that a referendum can be held on Greece’s bailout programme, given its importance: | The government, though, is insisting that a referendum can be held on Greece’s bailout programme, given its importance: |
| SYRIZA spokesman Fylis says referendum question being posed as "crucial national issue," which is permitted by constitution #Greece #euro | SYRIZA spokesman Fylis says referendum question being posed as "crucial national issue," which is permitted by constitution #Greece #euro |
| fylis: none of venizelos's arguments stand. ultimatum is a text of broader significance that determines future of our kids and our society | fylis: none of venizelos's arguments stand. ultimatum is a text of broader significance that determines future of our kids and our society |
| Updated | |
| at 12.15pm BST | |
| 12.12pm BST | |
| 12:12 | |
| It’s going to be a long debate.... | It’s going to be a long debate.... |
| syriza's fylis rebutted venizelos's arguments about referendum's constitutionality: his speech confused viewership w/substance | syriza's fylis rebutted venizelos's arguments about referendum's constitutionality: his speech confused viewership w/substance |
| 12.07pm BST | |
| 12:07 | |
| Venizelos is insisting that the terms of Greece’s bailout simply isn’t an issue of national security, so it can’t be the subject of a referendum.... | Venizelos is insisting that the terms of Greece’s bailout simply isn’t an issue of national security, so it can’t be the subject of a referendum.... |
| MP Venizelos challenges the constitutionality of the referendum on the basis that fiscal issues no threat to national security of country | MP Venizelos challenges the constitutionality of the referendum on the basis that fiscal issues no threat to national security of country |
| 12.05pm BST | |
| 12:05 | |
| Amid occasional barracking and constant low-level grumbling, Evangelos Venizelos is insisting that the Greek constitution prohibits referendum on fiscal issues. | Amid occasional barracking and constant low-level grumbling, Evangelos Venizelos is insisting that the Greek constitution prohibits referendum on fiscal issues. |
| Votes on national issues are allowed, but they mean foreign policy not financial matters, he tells MPs. | Votes on national issues are allowed, but they mean foreign policy not financial matters, he tells MPs. |
| 12.04pm BST | |
| 12:04 | |
| Back in the Athens parliament, things are getting heated. Former deputy PM Evangelos Venizelos is on his feet, questioning whether a referendum is constitutional. | Back in the Athens parliament, things are getting heated. Former deputy PM Evangelos Venizelos is on his feet, questioning whether a referendum is constitutional. |
| He’s reminding MPs that Alexis Tsipras was highly critical of ex PM George Papandreou’s (failed) attempt to hold a referendum in 2011, calling it a “trick” to keep himself in power. | He’s reminding MPs that Alexis Tsipras was highly critical of ex PM George Papandreou’s (failed) attempt to hold a referendum in 2011, calling it a “trick” to keep himself in power. |
| @graemewearden A transcript of @atsipras's scathing criticism of the 2011 proposed referendum, with compliments. pic.twitter.com/TIqQ10ZAdp | @graemewearden A transcript of @atsipras's scathing criticism of the 2011 proposed referendum, with compliments. pic.twitter.com/TIqQ10ZAdp |
| 12.00pm BST | |
| 12:00 | |
| Over in Brussels, eurozone finance ministers are starting to arrive for today’s extraordinary meeting on Greece. | Over in Brussels, eurozone finance ministers are starting to arrive for today’s extraordinary meeting on Greece. |
| French Finance Minister Sapin has arrived at Eurogroup meeting. No doorstep declaration. #Greece | French Finance Minister Sapin has arrived at Eurogroup meeting. No doorstep declaration. #Greece |
| 11.58am BST | |
| 11:58 | |
| Our Southern Europe editor, John Hooper, reports a queue at a cash machine in Syntagma Square (the site of the parliament) | Our Southern Europe editor, John Hooper, reports a queue at a cash machine in Syntagma Square (the site of the parliament) |
| Queuing round the corner for ATM in Syntagma Square pic.twitter.com/4vyVEMVAXr | Queuing round the corner for ATM in Syntagma Square pic.twitter.com/4vyVEMVAXr |
| Updated | |
| at 11.58am BST | |
| 11.54am BST | |
| 11:54 | |
| I can't speak for other areas but in Kallithea it's business as usual - except for the sound of Parliament TV out of every window. #Greece | I can't speak for other areas but in Kallithea it's business as usual - except for the sound of Parliament TV out of every window. #Greece |
| 11.53am BST | |
| 11:53 | |
| The head of the Greek Bank Association, Louka Katseli, has assured the Athens News Agency that cash machines are being “replenished smoothly.” | The head of the Greek Bank Association, Louka Katseli, has assured the Athens News Agency that cash machines are being “replenished smoothly.” |
| Katseli, who also chairs the National Bank of Greece added that any “isolated problems” due to an increase in outflows is being dealt with “as soon as possible” by the Central Bank of Greece. | Katseli, who also chairs the National Bank of Greece added that any “isolated problems” due to an increase in outflows is being dealt with “as soon as possible” by the Central Bank of Greece. |
| (via Reuters). | (via Reuters). |
| Updated | |
| at 11.55am BST | |
| 11.48am BST | |
| 11:48 | |
| Syriza MPs have been applauding warmly at several points, including as Voutsis concludes his speech. | Syriza MPs have been applauding warmly at several points, including as Voutsis concludes his speech. |
| voutsis concludes with fact that the referendum will be groundshaking and lead to an "honest agreement" afterwards. | voutsis concludes with fact that the referendum will be groundshaking and lead to an "honest agreement" afterwards. |
| Updated | |
| at 11.48am BST | |
| 11.45am BST | |
| 11:45 | |
| voutsis: it's not game over for our country or its people or its government or this parliament. | voutsis: it's not game over for our country or its people or its government or this parliament. |
| 11.43am BST | |
| 11:43 | |
| Nicos Voutsis is telling MPs that the referendum can help end austerity in Greece: | Nicos Voutsis is telling MPs that the referendum can help end austerity in Greece: |
| Twitter user Diane Shugart is tweeting the key points: | Twitter user Diane Shugart is tweeting the key points: |
| voutsis says the multiple blackmail directed at greece cannot go unanswered | voutsis says the multiple blackmail directed at greece cannot go unanswered |
| voutsis: the millions of our compatriots who have been pushed to or below the poverty line will participate on equal basis | voutsis: the millions of our compatriots who have been pushed to or below the poverty line will participate on equal basis |
| voutsis: we all have responsibility for the fact that their voices not being heard but we are taking the initiative today to restore the >> | voutsis: we all have responsibility for the fact that their voices not being heard but we are taking the initiative today to restore the >> |
| voutsis: we're not willing to accept that there is only a one-way street, the one-way street of austerity | voutsis: we're not willing to accept that there is only a one-way street, the one-way street of austerity |
| 11.38am BST | |
| 11:38 | |
| Greek referendum debate begins | Greek referendum debate begins |
| Greece’s interior minister, Nikos Voutsis, has opened the debate. He criticises the country’s lenders, and calls on all parties to vote in favour of holding a referendum: | Greece’s interior minister, Nikos Voutsis, has opened the debate. He criticises the country’s lenders, and calls on all parties to vote in favour of holding a referendum: |
| A unanimous decision would give us a stronger negotiating position, he argues, confirming that Syriza will vote “No”. | A unanimous decision would give us a stronger negotiating position, he argues, confirming that Syriza will vote “No”. |
| Minister Voutsis slamming the "undemocratic logic" in the negotiations with the institutions. #Greferendum #dimopsifisma | Minister Voutsis slamming the "undemocratic logic" in the negotiations with the institutions. #Greferendum #dimopsifisma |
| Minister Voutsis: "As obvious by yday's speech by the PM, the GR govt is not neutral; we ask to vote against the proposal." #Greferendum | Minister Voutsis: "As obvious by yday's speech by the PM, the GR govt is not neutral; we ask to vote against the proposal." #Greferendum |
| 11.30am BST | |
| 11:30 | |
| The referendum debate is being streamed live here. | The referendum debate is being streamed live here. |
| 11.27am BST | |
| 11:27 | |
| A senior member of Angela Merkel’s CDU party says there is no chance of the Bundestag approving a short-term extension to the Greek bailout: | A senior member of Angela Merkel’s CDU party says there is no chance of the Bundestag approving a short-term extension to the Greek bailout: |
| Gunther Krichbaum added that the Greek PM has “pulled the plug”: | Gunther Krichbaum added that the Greek PM has “pulled the plug”: |
| 11.25am BST | |
| 11:25 | |
| The debate in the Greek parliament has begun, around 90 minutes later than billed: | The debate in the Greek parliament has begun, around 90 minutes later than billed: |
| parliament approves process, with debate ending with midnight vote. | parliament approves process, with debate ending with midnight vote. |
| 11.22am BST | |
| 11:22 | |
| Here's how Greek political parties have reacted: | Here's how Greek political parties have reacted: |
| Helena Smith | Helena Smith |
| It is not only on the streets that tensions are on the rise, reports our correspondent Helena Smith. In parliament, where party leaders have rushed to convene emergency meetings, the rhetoric is also becoming ever more shrill. Addressing her MPs, the newly elected leader of the left-wing Pasok party, Fofi Gennimatas, said it was important the referendum did not take place . | It is not only on the streets that tensions are on the rise, reports our correspondent Helena Smith. In parliament, where party leaders have rushed to convene emergency meetings, the rhetoric is also becoming ever more shrill. Addressing her MPs, the newly elected leader of the left-wing Pasok party, Fofi Gennimatas, said it was important the referendum did not take place . |
| She said: | She said: |
| “They are gambling with the country. The real question is ‘yes or no’ to Europe.” | “They are gambling with the country. The real question is ‘yes or no’ to Europe.” |
| Greece’s defense minister Panos Kammenos, who heads the government’s junior partner, the right-wing nationalist Independent Greeks party, has been busy talking to reporters this morning and has heartedly denied that Greeks have been posed with the dilemma of having to choose between the euro or drachma. | Greece’s defense minister Panos Kammenos, who heads the government’s junior partner, the right-wing nationalist Independent Greeks party, has been busy talking to reporters this morning and has heartedly denied that Greeks have been posed with the dilemma of having to choose between the euro or drachma. |
| “We tried to compromise with lenders, this is about national dignity, about ending an era of humiliation of Greeks,” he said as he made his way through a crush of reporters outside parliament. | “We tried to compromise with lenders, this is about national dignity, about ending an era of humiliation of Greeks,” he said as he made his way through a crush of reporters outside parliament. |
| Minister of state Alekos Flambouraris, widely seen as prime minister Alexis Tsipras’ mentor, rejected suggestions that Greeks were now being forced to make a choice about their future in the single currency. ‘That is propaganda,” he said. “This is part of the negotiating [process].” The far right Golden Dawn leader Nikos Michaloliakos has also waded in saying his party will call on Greeks to reject creditors’ proposals when the referendum is held next Sunday. “We’ll call on Greeks to say no to the profiteers and all those who for five years have wanted to humiliate our homeland,” he railed in typically combattive mood outside the 300-member House. MPs representing the conservative New Democracy party, meanwhile, have been busy lambasting the government for calling the referendum but predicted that Greeks would say ‘a big yes’ to Europe and the euro. | Minister of state Alekos Flambouraris, widely seen as prime minister Alexis Tsipras’ mentor, rejected suggestions that Greeks were now being forced to make a choice about their future in the single currency. ‘That is propaganda,” he said. “This is part of the negotiating [process].” The far right Golden Dawn leader Nikos Michaloliakos has also waded in saying his party will call on Greeks to reject creditors’ proposals when the referendum is held next Sunday. “We’ll call on Greeks to say no to the profiteers and all those who for five years have wanted to humiliate our homeland,” he railed in typically combattive mood outside the 300-member House. MPs representing the conservative New Democracy party, meanwhile, have been busy lambasting the government for calling the referendum but predicted that Greeks would say ‘a big yes’ to Europe and the euro. |
| 11.10am BST | |
| 11:10 | |
| Delaying the referendum vote means Greek MPs should know the result of today’s meeting of eurozone finance ministers on Greece (unless that also runs on until midnight!) | Delaying the referendum vote means Greek MPs should know the result of today’s meeting of eurozone finance ministers on Greece (unless that also runs on until midnight!) |
| 11.08am BST | |
| 11:08 | |
| We’re now hearing that the vote on whether to hold a referendum has been pushed back to midnight Athens time, from 7pm. | We’re now hearing that the vote on whether to hold a referendum has been pushed back to midnight Athens time, from 7pm. |
| #Greece parliament vote on referendum to be held at midnight. It will be a very long day. | #Greece parliament vote on referendum to be held at midnight. It will be a very long day. |
| 11.05am BST | |
| 11:05 | |
| Freelance journalist Nick Barnets reports that it’s business as usual in his area of central Athens: | Freelance journalist Nick Barnets reports that it’s business as usual in his area of central Athens: |
| So far in central #Athens between Exarchia and Syntagma, I have seen almost nobody using an ATM. Typical Saturday afternoon here. #Greece | So far in central #Athens between Exarchia and Syntagma, I have seen almost nobody using an ATM. Typical Saturday afternoon here. #Greece |
| That backs up what Helena reported earlier - there are queues in some parts of town, but it’s not a panic. | That backs up what Helena reported earlier - there are queues in some parts of town, but it’s not a panic. |
| 11.01am BST | |
| 11:01 | |
| Reuters has been told that ‘security issues’ were the reason one Greek bank didn’t open as usual this morning (causing that queue flagged up earlier): | Reuters has been told that ‘security issues’ were the reason one Greek bank didn’t open as usual this morning (causing that queue flagged up earlier): |
| By mid-morning, there were dozens queuing outside a branch of Piraeus Bank in central Athens, although that is not unusual as many Greeks who don’t use cash cards come to banks on Saturdays. The bank was still closed nearly an hour after it was meant to open at 0730 GMT. | By mid-morning, there were dozens queuing outside a branch of Piraeus Bank in central Athens, although that is not unusual as many Greeks who don’t use cash cards come to banks on Saturdays. The bank was still closed nearly an hour after it was meant to open at 0730 GMT. |
| A senior executive at Piraeus said it intended to open the branch but was considering security issues because of the queues. | A senior executive at Piraeus said it intended to open the branch but was considering security issues because of the queues. |
| Many banks in Greece are usually closed on Saturdays but some lenders keep open one or two branches for a few hours. | Many banks in Greece are usually closed on Saturdays but some lenders keep open one or two branches for a few hours. |
| And one central bank official told Reuters that: | And one central bank official told Reuters that: |
| “The Bank of Greece is making a huge effort to keep ATMs fed with cash,” | “The Bank of Greece is making a huge effort to keep ATMs fed with cash,” |
| 10.45am BST | |
| 10:45 | |
| The FT’s Peter Spiegel has heard that eurozone finance ministers are very unlikely to accept Greece’s request for a short bailout extension to accommodate the referendum, when they meet today. | The FT’s Peter Spiegel has heard that eurozone finance ministers are very unlikely to accept Greece’s request for a short bailout extension to accommodate the referendum, when they meet today. |
| Two senior #eurozone officials tell me it's highly unlikely #eurogroup will extend #Greece bailout beyond Tues. | Two senior #eurozone officials tell me it's highly unlikely #eurogroup will extend #Greece bailout beyond Tues. |
| Ministers were already expected to work on a Plan B for Greece, if their latest offer of a five-month extension was rejected, as Ian Traynor explained last night: | Ministers were already expected to work on a Plan B for Greece, if their latest offer of a five-month extension was rejected, as Ian Traynor explained last night: |
| Related: Creditors draw up emergency measures in case of Greek default | Related: Creditors draw up emergency measures in case of Greek default |
| 10.34am BST | |
| 10:34 | |
| Helena Smith | Helena Smith |
| Greek government ministers have been making their way into parliament, where the governing Syriza party is to hold a meeting of its political secretariat: | Greek government ministers have been making their way into parliament, where the governing Syriza party is to hold a meeting of its political secretariat: |
| Asked if banks were at risk, the interior minister Nikos Vroutsis told reporters minutes ago: | Asked if banks were at risk, the interior minister Nikos Vroutsis told reporters minutes ago: |
| “I am very optimistic and optimistic about banks.” | “I am very optimistic and optimistic about banks.” |
| Dimitris Stratoulis, the deputy social security minister, said the referendum would arm the leftist-led government with renewed determination to forge ahead with its programme. “Why should [the result of the vote] have negative consequences?” he asked. | Dimitris Stratoulis, the deputy social security minister, said the referendum would arm the leftist-led government with renewed determination to forge ahead with its programme. “Why should [the result of the vote] have negative consequences?” he asked. |
| “I am optimistic, optimistic that Greeks will say a resounding ‘no’ to their [creditors’] brazen demands.” | “I am optimistic, optimistic that Greeks will say a resounding ‘no’ to their [creditors’] brazen demands.” |
| Smiles all round among Syriza officials in parliament. They are a happy bunch today #greece #Greferendum | Smiles all round among Syriza officials in parliament. They are a happy bunch today #greece #Greferendum |
| Updated | |
| at 10.35am BST | |
| 10.29am BST | |
| 10:29 | |
| Some Athens banks still quiet | Some Athens banks still quiet |
| Helena Smith | Helena Smith |
| Over in Athens, our correspondent Helena Smith says queues now forming outside banks are noticeably longer in the less affluent areas of the capital.In the suburbs of Athens, especially in areas worst hit by the biting effects of austery, queues are much longer than they are down town. | Over in Athens, our correspondent Helena Smith says queues now forming outside banks are noticeably longer in the less affluent areas of the capital.In the suburbs of Athens, especially in areas worst hit by the biting effects of austery, queues are much longer than they are down town. |
| In the plush area of Kolonaki, it is coffee shops that are drawing people, not banks, according to my colleague John Hooper who happens to be just there. | In the plush area of Kolonaki, it is coffee shops that are drawing people, not banks, according to my colleague John Hooper who happens to be just there. |
| In the historic district of Plaka, home to some of the wealthiest Greeks, too, and from where I now write these lines (from my humble office), there are -- with the exception of tourists attempting to withdraw cash -- almost no lines outside banks. | In the historic district of Plaka, home to some of the wealthiest Greeks, too, and from where I now write these lines (from my humble office), there are -- with the exception of tourists attempting to withdraw cash -- almost no lines outside banks. |
| Updated | |
| at 10.31am BST | |
| 10.19am BST | |
| 10:19 | |
| My colleague Jon Henley is tweeting from the Greek capital: | My colleague Jon Henley is tweeting from the Greek capital: |
| Tensions that little bit higher in Athens today - furious row between press photographers and ppl queuing to take cash out #Greece | Tensions that little bit higher in Athens today - furious row between press photographers and ppl queuing to take cash out #Greece |
| 10.15am BST | |
| 10:15 | |
| Euro zone finance ministers are still planning to hold their emergency meeting on Greece today, despite the referendum, one EU official has told Reuters. | Euro zone finance ministers are still planning to hold their emergency meeting on Greece today, despite the referendum, one EU official has told Reuters. |
| The meeting is due to start at 2pm Brussels time (1pm UK, 3pm Athens) | The meeting is due to start at 2pm Brussels time (1pm UK, 3pm Athens) |
| Greece will ask the Eurogroup to extend their bailout programme by a few days, beyond 30 June, to accommodate the referendum. | Greece will ask the Eurogroup to extend their bailout programme by a few days, beyond 30 June, to accommodate the referendum. |
| But there is no guarantee that this will be granted. And if Greece is no longer in a bailout programme, it is harder for the European Central Bank to keep providing emergency funds. | But there is no guarantee that this will be granted. And if Greece is no longer in a bailout programme, it is harder for the European Central Bank to keep providing emergency funds. |
| EU official: "Cannot see how bailout extension can possibly be accommodated by eurogroup". #Greece talks today more likely to be on "plan B" | EU official: "Cannot see how bailout extension can possibly be accommodated by eurogroup". #Greece talks today more likely to be on "plan B" |
| Enormous sense of betrayal in Brussels. First that there was no pre-warning of referendum. 2nd that Tsipras has already chosen his answer | Enormous sense of betrayal in Brussels. First that there was no pre-warning of referendum. 2nd that Tsipras has already chosen his answer |
| 10.08am BST | |
| 10:08 | |
| More from Sky’s reporting team in Athens: | More from Sky’s reporting team in Athens: |
| We have seen an ATM run out of money and the queue move down to next bank. Radio stns broadcasting which ATMs still have cash. | We have seen an ATM run out of money and the queue move down to next bank. Radio stns broadcasting which ATMs still have cash. |
| 9.57am BST | |
| 09:57 | |
| 9.47am BST | |
| 09:47 | |
| And here’s another queue outside a Greek bank in the capital, via Associated Press (who say it didn’t actually open in the end) | And here’s another queue outside a Greek bank in the capital, via Associated Press (who say it didn’t actually open in the end) |
| 9.42am BST | |
| 09:42 | |
| From Athens, Sky News’s Rob Nisbet reports a long queue at one ATM machine: | From Athens, Sky News’s Rob Nisbet reports a long queue at one ATM machine: |
| At least 40 people queueing at this ATM in Kallithea pic.twitter.com/1KDPHBcRFd | At least 40 people queueing at this ATM in Kallithea pic.twitter.com/1KDPHBcRFd |
| 9.34am BST | |
| 09:34 | |
| “We would consider the recent turn of events as a particularly negative market outcome”. | “We would consider the recent turn of events as a particularly negative market outcome”. |
| That’s the snap verdict from Deutsche Bank, who say the question of Greece’s membership of the euro is now “officially opened”. | That’s the snap verdict from Deutsche Bank, who say the question of Greece’s membership of the euro is now “officially opened”. |
| Here’s the key points from a new research note issued by DB this morning: | Here’s the key points from a new research note issued by DB this morning: |
| First, the European political response. | First, the European political response. |
| A Euro leaders summit may be called at short notice. Similarly to the Papandreou referendum proposal in 2012, we expect that Europeans will make it clear that the government’s referendum will be equivalent to a question on euro membership. The Europeans will also need to decide on whether to grant a short-term legal extension to the loan agreement. Though we are still waiting for the European reaction, we consider a more likely outcome that the program is allowed to expire: extension requires multiple parliamentary approval processes, and given the tone of the Greek PM’s speech it is unlikely that the political appetite exists to grant such an extension. The IMF response will also be important: when and if Lagarde notifies the IMF board of a non-payment event, this will trigger cross-default on Greece’s EFSF loans and the EFSF board of directors (the finance ministers) will have the option, but not the obligation, to call these loans immediately due and payable. | A Euro leaders summit may be called at short notice. Similarly to the Papandreou referendum proposal in 2012, we expect that Europeans will make it clear that the government’s referendum will be equivalent to a question on euro membership. The Europeans will also need to decide on whether to grant a short-term legal extension to the loan agreement. Though we are still waiting for the European reaction, we consider a more likely outcome that the program is allowed to expire: extension requires multiple parliamentary approval processes, and given the tone of the Greek PM’s speech it is unlikely that the political appetite exists to grant such an extension. The IMF response will also be important: when and if Lagarde notifies the IMF board of a non-payment event, this will trigger cross-default on Greece’s EFSF loans and the EFSF board of directors (the finance ministers) will have the option, but not the obligation, to call these loans immediately due and payable. |
| Second, the ECB response. | Second, the ECB response. |
| The central bank has been holding daily reviews of Greek bank ELA provision this week, and officials have in multiple statements last week made it clear that ongoing liquidity provision is based on a “credible perspective” of an agreement being reached. Decisions are likely to be taken in conjunction with the European political response and program extension this weekend. The situation remains very fluid, but as things stand we consider the most likely outcome being an ECB decision not to raise ELA funding beyond existing levels as of this past Friday, or alternatively an aggressive adjustment in collateral haircuts resulting in an implicit cap at some point next week. The Greek deputy PM has said he will seek a meeting with ECB’s Draghi on Saturday. | The central bank has been holding daily reviews of Greek bank ELA provision this week, and officials have in multiple statements last week made it clear that ongoing liquidity provision is based on a “credible perspective” of an agreement being reached. Decisions are likely to be taken in conjunction with the European political response and program extension this weekend. The situation remains very fluid, but as things stand we consider the most likely outcome being an ECB decision not to raise ELA funding beyond existing levels as of this past Friday, or alternatively an aggressive adjustment in collateral haircuts resulting in an implicit cap at some point next week. The Greek deputy PM has said he will seek a meeting with ECB’s Draghi on Saturday. |
| The third factor to watch will be public opinion polls on the referendum question. | The third factor to watch will be public opinion polls on the referendum question. |
| So far, these have shown that support for euro membership when an “unconditional” (“simple”) question is asked stands at around 70%. However, when this question is made conditional on more austerity, support drops to 55--65% depending on how the question is phrased. We expect the Greek PM’s position and the phrasing of the question itself to likely lead to additional swing towards a “no” vote. This is particularly so as Greek government officials have stated that the referendum will not be on euro membership, but rather the agreement. The extent to which European pressure and the situation of the banking system next week swings the vote the other way remains an open question. Overall, we expect the outcome to be very close and uncertain. The closer opinion polls are to a “no” vote, the greater probability is the market likely to price to a Greek Eurozone exit. | So far, these have shown that support for euro membership when an “unconditional” (“simple”) question is asked stands at around 70%. However, when this question is made conditional on more austerity, support drops to 55--65% depending on how the question is phrased. We expect the Greek PM’s position and the phrasing of the question itself to likely lead to additional swing towards a “no” vote. This is particularly so as Greek government officials have stated that the referendum will not be on euro membership, but rather the agreement. The extent to which European pressure and the situation of the banking system next week swings the vote the other way remains an open question. Overall, we expect the outcome to be very close and uncertain. The closer opinion polls are to a “no” vote, the greater probability is the market likely to price to a Greek Eurozone exit. |
| 9.27am BST | |
| 09:27 | |
| Greece will be given a straight choice whether to accept, or reject, the package of measures drawn up by the IMF, ECB and EU: | Greece will be given a straight choice whether to accept, or reject, the package of measures drawn up by the IMF, ECB and EU: |
| SORTED refQ saga: "THOSE CITIZENS REJECTING PROPOSAL OF 3 INSTITUTIONS -- NO "THOSE CITIZENS SUPPORTING PROPOSAL OF 3 INSTITUTIONS -- YES | SORTED refQ saga: "THOSE CITIZENS REJECTING PROPOSAL OF 3 INSTITUTIONS -- NO "THOSE CITIZENS SUPPORTING PROPOSAL OF 3 INSTITUTIONS -- YES |
| Here is Referendum question (h/t @antheecarassava) Do citizens reject the proposal of the three institutions? NAI / OXI | Here is Referendum question (h/t @antheecarassava) Do citizens reject the proposal of the three institutions? NAI / OXI |
| Updated | |
| at 10.44am BST | |
| 9.23am BST | |
| 09:23 | |
| Greeks 'odd-on' to reject bailout terms | Greeks 'odd-on' to reject bailout terms |
| Ladbrokes, the betting firm, reckons that Greeks are likely to reject the proposal drawn up by its lenders: | Ladbrokes, the betting firm, reckons that Greeks are likely to reject the proposal drawn up by its lenders: |
| #Greece bailout #referendum odds: 1/3 NO to deal 2/1 YES to deal http://t.co/4CWIfTXJ2p pic.twitter.com/dY7OqtsnXX | #Greece bailout #referendum odds: 1/3 NO to deal 2/1 YES to deal http://t.co/4CWIfTXJ2p pic.twitter.com/dY7OqtsnXX |
| 9.15am BST | |
| 09:15 | |
| Coalition leader: Greeks shouldn't panic | Coalition leader: Greeks shouldn't panic |
| The head of the junior coalition party in Greece, Panos Kammenos, has told Greeks to remain calm, as banks will remain open. | 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. | Kammenos told local TV that the decision to call a referendum shouldn’t spark alarm. |
| “Citizens should not be scared - there is no blackmail,” | “Citizens should not be scared - there is no blackmail,” |
| “The banks won’t shut, the ATMs will (have cash). All this is exaggeration.” | “The banks won’t shut, the ATMs will (have cash). All this is exaggeration.” |
| Kammenos, who leads the populist right-wing Independent Greek party, has also suggested that the referendum could yet be cancelled if creditors blink. | Kammenos, who leads the populist right-wing Independent Greek party, has also suggested that the referendum could yet be cancelled if creditors blink. |
| Ind Greeks leader Kammenos (coalition party) says if creditors back down & accept Greek proposal "everything changes-referendum called off." | Ind Greeks leader Kammenos (coalition party) says if creditors back down & accept Greek proposal "everything changes-referendum called off." |
| Updated | |
| at 9.18am BST | |
| 9.12am BST | |
| 09:12 | |
| Cash machine queues in Athens | Cash machine queues in Athens |
| There are signs that worried Greeks are heading to the cash machines in greater numbers this morning. | 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/7LvU8v6Aoi | Ουρές σε ΑΤΜ στο Γαλάτσι pic.twitter.com/7LvU8v6Aoi |
| Denis MacShane, the former Labour MP, says he’s had some trouble getting money out in Athens: | Denis MacShane, the former Labour MP, says he’s had some trouble getting money out in Athens: |
| 2 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 ATMs | 2 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 ATMs |
| However, the situation seems calm on the Greek island of Poros: | However, the situation seems calm on the Greek island of Poros: |
| bank run watch, poros: two people at the ATM, both weekending yachties from athens. locals haggling with fishermen over day's catch. | bank run watch, poros: two people at the ATM, both weekending yachties from athens. locals haggling with fishermen over day's catch. |
| 8.42am BST | |
| 08:42 | |
| Introduction: Referendum debate and Eurogroup meeting | Introduction: Referendum debate and Eurogroup meeting |
| Good morning. | 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. | 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 | Related: Greek PM Alexis Tsipras calls referendum on bailout terms |
| By taking the issue to the people, Tsipras has ensured that the next week or so will be absolutely critical for deciding Greece’s future in the eurozone. Starting right now. | By taking the issue to the people, Tsipras has ensured that the next week or so will be absolutely critical for deciding Greece’s future in the eurozone. Starting right now. |
| Greek PMs will be heading to parliament shortly to vote on whether to back Tsipras’s plan for a national vote on Sunday 5th June. | Greek PMs will be heading to parliament shortly to vote on whether to back Tsipras’s plan for a national vote on Sunday 5th June. |
| The debate starts at noon local time (or 10am BST), with a vote expected seven hours later. A simple majority is all it needs to put the issue in the hands of the Greek population. | The debate starts at noon local time (or 10am BST), with a vote expected seven hours later. A simple majority is all it needs to put the issue in the hands of the Greek population. |
| #Greece parliament plenary session at noon, #Eurogroup at 3pm (GR), vote on #Greferendum at 7pm (GR). #politics #euro | #Greece parliament plenary session at noon, #Eurogroup at 3pm (GR), vote on #Greferendum at 7pm (GR). #politics #euro |
| And while that’s happening, eurozone finance ministers will be heading to Brussels for another Eurogroup meeting. | And while that’s happening, eurozone finance ministers will be heading to Brussels for another Eurogroup meeting. |
| That session was due to start at 1pm Central European time (2pm Athens, or noon BST). Ministers were expected to see Greece handed a “take-it-or-leave-it” offer, in return for a bailout extension. | That session was due to start at 1pm Central European time (2pm Athens, or noon BST). Ministers were expected to see Greece handed a “take-it-or-leave-it” offer, in return for a bailout extension. |
| Tsipras, though, has already dismissed this offer of “severe and humiliating austerity without end”, and is asking creditors for a short extension to the current bailout (which expires on Tuesday). | Tsipras, though, has already dismissed this offer of “severe and humiliating austerity without end”, and is asking creditors for a short extension to the current bailout (which expires on Tuesday). |
| Will they agree, or will they press on with work on a “Plan B” for Greece, including capital controls? | Will they agree, or will they press on with work on a “Plan B” for Greece, including capital controls? |
| Today's Eurogroup has a big decision to make: do they extend bailout to 5th July or not? The Greeks have requested that & it would 1/2 | Today's Eurogroup has a big decision to make: do they extend bailout to 5th July or not? The Greeks have requested that & it would 1/2 |
| allow the ECB to keep funding the banks. But why agree from their point of view? Would require a difficult Bundestag vote. 2/2 | allow the ECB to keep funding the banks. But why agree from their point of view? Would require a difficult Bundestag vote. 2/2 |
| Tsipras’s decision to take the issue to the people has already fanned fears over its banks ability to keep running; will the European Central Bank continue to provide emergency help? | Tsipras’s decision to take the issue to the people has already fanned fears over its banks ability to keep running; will the European Central Bank continue to provide emergency help? |
| As our Athens correspondent Helena Smith reported: | As our Athens correspondent Helena Smith reported: |
| Describing 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. | Describing 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. | 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. |
| Panic-stricken depositors, worried that capital controls may only be hours away, rushed to ATMs to withdraw savings. Queues quickly formed outside banks around the capital . | Panic-stricken depositors, worried that capital controls may only be hours away, rushed to ATMs to withdraw savings. Queues quickly formed outside banks around the capital . |
| After months of wrangling between the Greek government and its creditors, matters are finally, dramatically, coming to a head. | After months of wrangling between the Greek government and its creditors, matters are finally, dramatically, coming to a head. |
| I’ll be tracking all the action though the day..... | I’ll be tracking all the action though the day..... |
| Updated | |
| at 9.01am BST |