Greece debt crisis: parliament nod to referendum on bailout

greeceThe Greek parliament has backed plans for a referendum on international creditors’ terms for a new bailout. The 5 July referendum was called by PM Alexis Tsipras, who opposes further budget cuts. He urged voters to deliver a “resounding ‘no'” to the package. Eurozone partners have criticised Greece’s referendum announcement, and rejected its request to extend the bailout programme beyond 30 June.Greece could default on a €1.6bn (£1.1bn) repayment to the International Monetary Fund (IMF) due on that day.

There are fears the country may leave the euro and that its economy may collapse without new bailout funds.

Mr Tsipras’ motion on a referendum easily won backing in the 300-member strong parliament, with at least 179 MPs voting in favour of it in the early hours of Sunday.

Speaking just before the vote, Mr Tsipras described the creditors’ proposal as “an insulting ultimatum” and said an emphatic “no” vote on 5 July would strengthen Greece’s negotiating position.

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