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| Greece debt crisis: PM Tsipras defiant as bank controls bite | Greece debt crisis: PM Tsipras defiant as bank controls bite |
| (about 1 hour later) | |
| Greece's Prime Minister Alexis Tsipras has made a defiant speech as cash withdrawal limits begin to bite for Greek bank customers. | Greece's Prime Minister Alexis Tsipras has made a defiant speech as cash withdrawal limits begin to bite for Greek bank customers. |
| Mr Tsipras promised Greeks their pensions and wages would be safe. | Mr Tsipras promised Greeks their pensions and wages would be safe. |
| Before his speech he put new proposals to eurozone partners, accepting most of what was on the table before talks collapsed, but with conditions. | Before his speech he put new proposals to eurozone partners, accepting most of what was on the table before talks collapsed, but with conditions. |
| But eurozone finance ministers later said there were "no grounds for further talks at this point". | But eurozone finance ministers later said there were "no grounds for further talks at this point". |
| Dutch Finance Minster Jeroen Dijsselbloem replied to Mr Tsipras's proposals, saying a new bailout could only be discussed "after and on the basis of the outcome of" a referendum Mr Tsipras has called for Sunday. | |
| Greeks will be asked to accept or reject proposals made by creditors last week, with Mr Tsipras urging a "No" vote to strengthen Greece's hand in negotiations. | |
| Finance Minister Yanis Varoufakis told Greek TV that the government would aim to secure a deal with creditors on Monday, with capital controls being lifted soon after. | |
| Athens was willing to accept "strict" conditions of a new bailout package, if in exchange the sustainability of Greece's debt were guaranteed, Mr Varoufakis said, according to Reuters. | |
| Mr Tsipras's latest offer to creditors is tied explicitly to agreement on a request for a third bailout from the eurozone's bailout fund lasting two years and amounting to €29.1bn. | Mr Tsipras's latest offer to creditors is tied explicitly to agreement on a request for a third bailout from the eurozone's bailout fund lasting two years and amounting to €29.1bn. |
| In his address on Wednesday Mr Tsipras thanked Greeks for their "calm" in the face of bank closures and said their salaries and pensions would "not be lost". | In his address on Wednesday Mr Tsipras thanked Greeks for their "calm" in the face of bank closures and said their salaries and pensions would "not be lost". |
| He angrily denied he had a secret plan to take Greece out of the euro, calling those who accused him of this "liars". | He angrily denied he had a secret plan to take Greece out of the euro, calling those who accused him of this "liars". |
| Follow latest developments as they happen | Follow latest developments as they happen |
| Tsipras rails at EU | Tsipras rails at EU |
| Peston: Greece bossed by ECB | Peston: Greece bossed by ECB |
| Greek press splits over referendum | Greek press splits over referendum |
| Greek banks did not open this week after the ECB froze their liquidity lifeline, and on Wednesday decided to keep the emergency funding at the same level. | |
| The ECB did not decide to demand more collateral from Greek banks as some had speculated it might. | |
| Withdrawals from cash machines are capped at just €60 a day and long queues have been forming outside banks. | Withdrawals from cash machines are capped at just €60 a day and long queues have been forming outside banks. |
| However, up to 1,000 branches re-opened on Wednesday to allow pensioners - many of whom do not use bank cards - a one-off weekly withdrawal of up to €120. | However, up to 1,000 branches re-opened on Wednesday to allow pensioners - many of whom do not use bank cards - a one-off weekly withdrawal of up to €120. |
| Many pensioners had waited outside banks from before dawn, only to be told to return on Thursday or Friday, AP reports. Some pensioners were told their pensions had not yet been deposited. | Many pensioners had waited outside banks from before dawn, only to be told to return on Thursday or Friday, AP reports. Some pensioners were told their pensions had not yet been deposited. |
| "It's very bad,'' said Popi Stavrakaki, 68. "I'm afraid it will be worse soon. I have no idea why this is happening." | "It's very bad,'' said Popi Stavrakaki, 68. "I'm afraid it will be worse soon. I have no idea why this is happening." |
| Close to 300 pensioners marched on the Bank of Greece in Athens after being given only a small sum from banks in the morning instead of the entire €120. | Close to 300 pensioners marched on the Bank of Greece in Athens after being given only a small sum from banks in the morning instead of the entire €120. |
| BBC Europe correspondent Chris Morris says that as well as seeking further amendments to the creditors' proposals, Mr Tsipras's latest offer is tied explicitly to agreement on a request for a third bailout. | BBC Europe correspondent Chris Morris says that as well as seeking further amendments to the creditors' proposals, Mr Tsipras's latest offer is tied explicitly to agreement on a request for a third bailout. |
| In other words, Mr Tsipras is attaching new conditions to any agreement on economic and structural reforms, our correspondent says. | In other words, Mr Tsipras is attaching new conditions to any agreement on economic and structural reforms, our correspondent says. |
| And his application for a third bailout was accompanied by a request for debt restructuring that other eurozone countries would, at this stage, be unwilling to consider, he adds. | And his application for a third bailout was accompanied by a request for debt restructuring that other eurozone countries would, at this stage, be unwilling to consider, he adds. |
| With the previous eurozone bailout expired, Greece no longer has access to billions of euros in funds. | With the previous eurozone bailout expired, Greece no longer has access to billions of euros in funds. |
| Lenders' proposals - key sticking points | Lenders' proposals - key sticking points |
| Source: European Commission document, 26 Jun 15 (pdf) | Source: European Commission document, 26 Jun 15 (pdf) |
| Greek debt jargon explained | Greek debt jargon explained |
| Tsipras and his Greek gamble | Tsipras and his Greek gamble |
| Athens missed the deadline for a €1.5bn (£1.1bn, $1.7bn) payment to the IMF on Tuesday. | Athens missed the deadline for a €1.5bn (£1.1bn, $1.7bn) payment to the IMF on Tuesday. |
| Only three other countries are still in arrears to the IMF - Sudan, Somalia and Zimbabwe. Between them, they owe €1.6bn, only marginally more than Greece. | Only three other countries are still in arrears to the IMF - Sudan, Somalia and Zimbabwe. Between them, they owe €1.6bn, only marginally more than Greece. |
| The European Commission - one of the "troika" of creditors along with the IMF and the ECB - wants Athens to raise taxes and cut welfare spending to meet its debt obligations. | The European Commission - one of the "troika" of creditors along with the IMF and the ECB - wants Athens to raise taxes and cut welfare spending to meet its debt obligations. |
| Greece's left-wing Syriza government, elected on an anti-austerity platform, has been in deadlock with its creditors for months over the terms of a third bailout. | Greece's left-wing Syriza government, elected on an anti-austerity platform, has been in deadlock with its creditors for months over the terms of a third bailout. |
| Last weekend, the Greek government took the unilateral decision to hold a vote, angering eurozone ministers. | Last weekend, the Greek government took the unilateral decision to hold a vote, angering eurozone ministers. |
| EU leaders have warned that a "No" vote would see Greece leave the eurozone - though Mr Tsipras says he does not want this to happen. | EU leaders have warned that a "No" vote would see Greece leave the eurozone - though Mr Tsipras says he does not want this to happen. |
| Human rights body the Council of Europe has said the referendum would "fall short of international standards" if held as planned on Sunday. | Human rights body the Council of Europe has said the referendum would "fall short of international standards" if held as planned on Sunday. |
| The body's Secretary General Thorbjorn Jagland told AP that the fact the vote "has been called on such a short notice... is a major problem", and criticised the lack of clarity in the question to be put to voters. | The body's Secretary General Thorbjorn Jagland told AP that the fact the vote "has been called on such a short notice... is a major problem", and criticised the lack of clarity in the question to be put to voters. |
| A poll by the Greek newspaper Efimerida ton Syntakton published on Wednesday suggested that 54% of Greeks would vote against the creditors' terms for a bailout - but that the number of "No" voters had fallen since the introduction of capital controls. | A poll by the Greek newspaper Efimerida ton Syntakton published on Wednesday suggested that 54% of Greeks would vote against the creditors' terms for a bailout - but that the number of "No" voters had fallen since the introduction of capital controls. |
| Greece's cash trap - Dimitris Katsikas, Hellenic Foundation for European and Foreign Policy | Greece's cash trap - Dimitris Katsikas, Hellenic Foundation for European and Foreign Policy |
| The economy is frozen and we're in a liquidity trap, where everyone wants to hold euros. | The economy is frozen and we're in a liquidity trap, where everyone wants to hold euros. |
| Investment is non-existent and consumption has collapsed. | Investment is non-existent and consumption has collapsed. |
| People have stopped submitting tax income statements and with the banks closed the government cannot receive anything. Supermarkets don't know what to do with the cash they receive. | People have stopped submitting tax income statements and with the banks closed the government cannot receive anything. Supermarkets don't know what to do with the cash they receive. |
| We are not in the eurozone bailout programme so the European Central Bank cannot increase funding to the banking system. | We are not in the eurozone bailout programme so the European Central Bank cannot increase funding to the banking system. |
| Credit agencies have reduced the ratings on Greek banks so they're almost junk and even if they have collateral to give they may not be able to get new funding. Plus, we are essentially in default of the IMF. | Credit agencies have reduced the ratings on Greek banks so they're almost junk and even if they have collateral to give they may not be able to get new funding. Plus, we are essentially in default of the IMF. |
| Even if there is a deal, capital controls will be here for some time because there would be a rush on the banks if they re-opened. | Even if there is a deal, capital controls will be here for some time because there would be a rush on the banks if they re-opened. |
| An interim solution would only calm the symptoms of the crisis. Under a more permanent deal difficulties would remain for some weeks. | An interim solution would only calm the symptoms of the crisis. Under a more permanent deal difficulties would remain for some weeks. |
| What happens next? | What happens next? |
| 5 July - Referendum on creditors' proposals takes place, which many say is effectively a vote on Greek membership of the eurozone | 5 July - Referendum on creditors' proposals takes place, which many say is effectively a vote on Greek membership of the eurozone |
| 20 July - Greece must redeem €3.46bn of bonds held by the European Central Bank. If it fails to do so, the ECB can cut off Greece's access to emergency loans | 20 July - Greece must redeem €3.46bn of bonds held by the European Central Bank. If it fails to do so, the ECB can cut off Greece's access to emergency loans |
| Are you in Greece? What are your concerns? Do you have friends and family in the country who may be affected? Email haveyoursay@bbc.co.uk with your experiences. | Are you in Greece? What are your concerns? Do you have friends and family in the country who may be affected? Email haveyoursay@bbc.co.uk with your experiences. |
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