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You can find the current article at its original source at http://www.theguardian.com/business/live/2015/jul/02/greek-debt-crisis-athens-creditors-referendum-yes-no-live
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| Greek debt crisis: Athens and creditors hunker down before referendum - live | Greek debt crisis: Athens and creditors hunker down before referendum - live |
| (35 minutes later) | |
| 9.09am BST09:09 | |
| Christine Lagarde has punctured hopes of early debt relief for Greece. | |
| In an interview with Reuters, the IMF chief said that it would be “preferable to see a deliberate move towards reforms”, before tackling the issue of Athens’s debt pile | |
| Here’s the story, by Jennifer Rankin in Brussels: | |
| Related: IMF tells Greece: no debt relief before reforms | |
| Don’t forget, though, that the IMF’s own research shows that Greece has no chance of hitting the target of cutting debt “well below 110% of GDP by 2022” | |
| IMF own analysis shows #Greece debt still unsustainable in 2030-even with austerity + III bailout-w/out restructuring http://t.co/1tZc46DC46 | |
| Updated at 9.09am BST | |
| 8.55am BST08:55 | |
| The Greek limbo extends to the financial markets, where the main indices are broadly flat in early trading. | |
| Investors are waiting for the Greek crisis to develop, says Tony Cross of Trustnet direct: | |
| The political grandstanding continues over the Greek debt talks and although the next key indicator here is likely to be the result of Sunday’s referendum, there’s still the prospect of either side throwing in a firework. | |
| The euro is also becalmed - hovering around $1.105. Perhaps London traders are simply overcome with sunstroke and unable to put many bids it. | |
| 8.47am BST08:47 | |
| Over in the FT’s letters section, one young Greek citizen has written about her fears for the future: | |
| A young Greek, 21, writes from the heart about her country's fate pic.twitter.com/9aNpgK22Oj | |
| 8.38am BST08:38 | |
| Having made optimistic noises in recent weeks, France’s finance minister sounds increasingly like a glass-half-empty man. | |
| Speaking on iTELE, Michel Sapin warned that a No vote could lead to Grexit, as: | |
| “You cannot reach a deal with someone who tells you ‘No’.” | |
| (quote via Reuters) | |
| A Yes vote, though, would lead to negotiations resuming immediately. All eurozone finance ministers were united on this point at yesterday’s meeting, Sapin added. | |
| *EUROGROUP UNITED IN SAYING ACCORD IMPOSSIBLE BEFORE VOTE: SAPIN | |
| 8.23am BST08:23 | 8.23am BST08:23 |
| Introduction: Waiting for the referendum | Introduction: Waiting for the referendum |
| Good morning, and welcome to our rolling of the Greek debt crisis. | Good morning, and welcome to our rolling of the Greek debt crisis. |
| We’re entering a period of limbo this morning, with both sides now firmly entrenched ahead of Sunday’s referendum. | We’re entering a period of limbo this morning, with both sides now firmly entrenched ahead of Sunday’s referendum. |
| In Athens, Alexis Tsipras is pressing on with the vote, insisting it will give him a stronger mandate to agree a third bailout and put Greece on a brighter path. | In Athens, Alexis Tsipras is pressing on with the vote, insisting it will give him a stronger mandate to agree a third bailout and put Greece on a brighter path. |
| But after yesterday’s TV address, slamming the “extremist conservative forces” in Europe who have tried to undermine him, the rest of Europe hunkering down until Sunday. | But after yesterday’s TV address, slamming the “extremist conservative forces” in Europe who have tried to undermine him, the rest of Europe hunkering down until Sunday. |
| Last night, euro finance ministers refused to even discuss a third bailout until Sunday’s polls are closed, the ballot boxes emptied, and a result declared. | Last night, euro finance ministers refused to even discuss a third bailout until Sunday’s polls are closed, the ballot boxes emptied, and a result declared. |
| And maybe not even then, if the No side win. | And maybe not even then, if the No side win. |
| As Ian Traynor explained last night: | As Ian Traynor explained last night: |
| The trenchant criticism of Tsipras from Berlin reinforced the view that the German government might refuse to negotiate with the leftwing Syriza administration on any new rescue package after Sunday’s referendum in Greece – which Berlin insists is a vote on whether to stay in the euro. | The trenchant criticism of Tsipras from Berlin reinforced the view that the German government might refuse to negotiate with the leftwing Syriza administration on any new rescue package after Sunday’s referendum in Greece – which Berlin insists is a vote on whether to stay in the euro. |
| Related: Greece crisis: Berlin accuses Tsipras of seeking scapegoats outside own ranks | Related: Greece crisis: Berlin accuses Tsipras of seeking scapegoats outside own ranks |
| Eurozone leaders have ruled out more talks with Greece until after the latter’s Sunday referendum. Effectively going over Syriza’s head | Eurozone leaders have ruled out more talks with Greece until after the latter’s Sunday referendum. Effectively going over Syriza’s head |
| Writing in our comment section today, Seamus Milne argues that Berlin and Brussels are determined to achieve “regime change” in Athens: | Writing in our comment section today, Seamus Milne argues that Berlin and Brussels are determined to achieve “regime change” in Athens: |
| There’s no suggestion of genuine compromise. The aim is apparently to humiliate Tsipras and his government in preparation for its early replacement with a more pliable administration. | There’s no suggestion of genuine compromise. The aim is apparently to humiliate Tsipras and his government in preparation for its early replacement with a more pliable administration. |
| We know from the IMF documents prepared for last week’s “final proposals” and reported in the Guardian that the creditors were fully aware they meant unsustainable levels of debt and self-defeating austerity for Greece until at least 2030, even on the most fancifully optimistic scenario.... | We know from the IMF documents prepared for last week’s “final proposals” and reported in the Guardian that the creditors were fully aware they meant unsustainable levels of debt and self-defeating austerity for Greece until at least 2030, even on the most fancifully optimistic scenario.... |
| Related: Syriza can’t just cave in. Europe’s elites want regime change in Greece | Seumas Milne | Related: Syriza can’t just cave in. Europe’s elites want regime change in Greece | Seumas Milne |
| Wolfgang Munchau of Euro Intelligence sums it up: | Wolfgang Munchau of Euro Intelligence sums it up: |
| Just as the mood in Greece is shifting towards a Yes, the mood in Germany is shifting towards a No. A fine mess. http://t.co/5k79LAUuoq | Just as the mood in Greece is shifting towards a Yes, the mood in Germany is shifting towards a No. A fine mess. http://t.co/5k79LAUuoq |
| So now we wait....Three days of uncertainty lie ahead, with Greece’s economy continuing to bleed from the imposition of capital controls. Last night, the European Central Bank maintained the cap on Greek emergency funding, meaning the banks won’t open before the referendum either. | So now we wait....Three days of uncertainty lie ahead, with Greece’s economy continuing to bleed from the imposition of capital controls. Last night, the European Central Bank maintained the cap on Greek emergency funding, meaning the banks won’t open before the referendum either. |
| We’ll be tracking all the main events through the day... | We’ll be tracking all the main events through the day... |