Juncker on Greece’s Tsipras: Referendum question is not valid

Tsipras is set to unveil new bailout proposals at an emergency meeting of eurozone leaders in Brussels on Tuesday.

 

“The Greek Prime Minister knows that the question asked in the Greek vote was no longer valid. I’m against a Grexit but we must discuss what ‘respecting the Greek vote’ means,” said Juncker in a speech Tuesday morning.

 

“I’m very saddened that the Greek delegation left the negotiating table — you don’t do that in Europe. It was a big mistake. We must try and find a solution. It can’t be done today — that would be to simplistic. Today we’ll pave the way, through talks and mutual understanding, to put things in order. The ball lies in the Greek government’s court.”

 

Greeks had to vote either “Yes” or “No” to bailout conditions given to the government before June 30. However, the situation radically changed when Greece  defaulted on its €1.6 billion (£1.1 billion, $1.8 billion) payment to its creditors that day.

 

Now, a “No” vote means Greece is likely to default on almost all its remaining debt and run out of money because the European Central Bank will not lend the country anymore cash.

 

Read More: Juncker on Greece’s Tsipras: Referendum question is not valid – Business Insider