Greeks sense a tragedy

30 June 2015 - 02:01 By Reuters

Stunned Greeks faced shuttered banks, long supermarket queues and overwhelming uncertainty yesterday as a breakdown in talks between Athens and its international creditors plunged the country deep into crisis. With Greece's bailout expiring today and a debt repayment instalment to the IMF falling due as well, Prime Minister Alexis Tsipras pleaded by phone with European officials to extend the programme until a referendum on Sunday on its future terms.The frantic efforts to secure Greece's place within the eurozone followed a dramatic weekend.Tsipras's decision early on Saturday to put the aid package to a popular vote took the lenders and some of the prime minister's own negotiating team by surprise.The events also pushed Greece towards defaulting on the à1.6-billion it owes to the IMF.Fearing a run on banks yesterday morning, the government ordered an extended bank holiday until after the referendum.Withdrawals from ATMs were limited to à60 a day. The stock exchange will also stay shut.Greeks - used to lengthy talks with creditors before an 11th-hour deal - were left shocked by the turn of events.Queues snaked outside ATMs and inside supermarkets while fears of disruptions to petrol and medicine supplies grew."I can't believe it," said Athens resident Evgenia Gekou, 50, on her way to work."I keep thinking we will wake up tomorrow and everything will be okay. I'm trying not to worry."After months of talks, Greece's exasperated European partners have put the blame for the crisis squarely on Tsipras for rejecting a financial rescue package they consider generous.The Greek side says further austerity will simply deepen the crisis in a country where a quarter of the workforce is already unemployed.Emotions were unusually raw among Europe's leaders.EU Commission President Jean-Claude Juncker said he felt"betrayed" and told Greeks a "no" vote would point to a euro exit."I will say to the Greeks, who I love deeply: you must not commit suicide because you are afraid of death," he told a news conference.French President Francois Hollande appealed to Tsipras to return to the negotiating table and German Chancellor Angela Merkel said she was willing to talk to the Greek leader if he wanted.The referendum poses a simple question: "Should the proposal which was submitted by the European Commission, the European Central Bank and the International Monetary Fund at the Eurogroup of June 25 2015 be accepted?"The "no" box appears as the first option on top of the "yes" box below.The government has urged Greeks to vote "no"...

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