Greek crisis: Key events since Sunday's referendum

Greek crisis: Key events since Sunday's referendum
A pensioner tries to enter a National Bank branch to receive part of her pension at the city of Iraklio in the island of Crete, Greece, on July 9.
PHOTO: Reuters

ATHENS - Following is a timeline of events in the Greek crisis since Sunday's referendum:

Sunday, July 5
- Greek voters reject terms of a bailout proposition with 61.31 per cent voting "No", boosting Prime Minister Alexis Tsipras.
- Tsipras says the vote "is not an mandate of rupture with Europe, but a mandate that bolsters our negotiating strength to achieve a viable deal." He warns creditors: "This time, the debt will be on the negotiating table."
- German Economy Minister Sigmar Gabriel says Tsipras has "torn down the bridges" between Greece and Europe.

Monday, July 6
- Yanis Varoufakis resigns as Greek finance minister to improve relations with eurozone creditor countries, and is replaced by Euclid Tsakalotos, who has been steering talks with EU-IMF creditors.
- The European Central Bank (ECB) maintains a crucial cash lifeline to Greek banks but with tougher conditions.

Tuesday, July 7
- Eurozone finance ministers meet in Brussels ahead of an extraordinary summit of eurozone heads of state and government. Both meetings end without a detailed proposal from the Greek government. It is given until Thursday to present a convincing programme of reforms.
- European Commission head Jean-Claude Juncker, who had said he is opposed to Greece withdrawing from the 19-nation eurozone, warns that such a scenario has nonetheless now been prepared "in detail.".

Wednesday, July 8
- Tsipras addresses the European Parliament, says Greece will submit "credible" reform plans on Thursday, and wants to prevent a "divided Europe." His speech draws a mix of boos and cheers from European MPs.
- EU President Donald Tusk warns MPs: "This is really and truly the final wake-up call for Greece and for us, our last chance."
- Athens formally submits a request for new aid from the European Stability Mechanism, the eurozone's bailout fund, offering to start pension and tax reforms next week in return for a three-year eurozone loan. To obtain the aid, Athens must submit a complete reform plan to the eurozone by late Thursday, ahead of a full EU summit on Sunday.
- French premier Manuel Valls calls Greek request "balanced, positive." "It shows a real willingness to move forward and reform," he adds. Spanish Prime Minister Mariano Rajoy welcomes a "positive" change in tone.
- Greek banks, closed since June 28, will remain closed until Monday, while withdrawal limits will remain unchanged at 60 euros ($66).
- The ECB decides to leave its cash lifeline to Greece, known as Emergency Liquidity Assistance (ELA), unchanged at 89 billion euros ($99 billion).
- International Monetary Fund Managing Director Christine Lagarde says a new bailout would require creditors to restructure Greece's debt, a position contrary to that of the EU.

Thursday, July 9
- Tusk says Greece's creditors must make a "realistic" proposal for managing its debt.

More about

Purchase this article for republication.

BRANDINSIDER

SPONSORED

Most Read

Your daily good stuff - AsiaOne stories delivered straight to your inbox
By signing up, you agree to our Privacy policy and Terms and Conditions.