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Greece debt crisis: Tsipras announces bailout referendum | |
(35 minutes later) | |
Greece will hold a referendum on 5 July controversial bailout deal with foreign creditors, Prime Minister Alexis Tsipras has announced. | Greece will hold a referendum on 5 July controversial bailout deal with foreign creditors, Prime Minister Alexis Tsipras has announced. |
In a televised address, he described the plan as "humiliation" and condemned "unbearable" austerity measures demanded by creditors. | |
The Greek government earlier rejected the proposals, aimed at avoiding the country defaulting on its debt. | |
Greece has to make a €1.5bn ($1.7bn; £1.06bn) IMF debt repayment on 30 June. | Greece has to make a €1.5bn ($1.7bn; £1.06bn) IMF debt repayment on 30 June. |
In the speech, Mr Tsipras said: "These proposals, which clearly violate the European rules and the basic rights to work, equality and dignity show that the purpose of some of the partners and institutions was not a viable agreement for all parties, but possibly the humiliation of an entire people." | |
"The people must decide free of any blackmail," he added. | |
German Chancellor Angela Merkel earlier had urged Athens to accept what she called an "extraordinarily generous" offer. | |
The proposal would have released €15.5bn of funding, €1.8bn of which would have been available now. |