Key dates in Greek debt crisis

JUNE 27

Greek Prime Minister Alexis Tsipras calls for snap referendum on Troika’s* cash-for-reform demands. Eurozone finance ministers reject request for five-day extension of bailout programme until referendum

JUNE 28

European Central Bank limits emergency loans to Greek banks at €89 billion. Without emergency lending, Greece will have to print its own currency – triggering exit from eurozone

JUNE 29

Banks closed for next six days. ATM withdrawals limited to €60 per day per account

JUNE 30

Greek bailout programme expires atmidnight. €1.6bn repayment to IMF falls due – Greece becomes first developed country in history to default on IMF debt

JULY 5

Referendum Greeks to vote on whether to accept Troika demands to cut pensions and raise taxes 

“NO”

Tsipras has called on Greeks to reject Troika ultimatum with “NO”. Says leaving eurozone would be better than continuing with austerity programme indefinitely

“YES”

Syriza-led government likely to be replaced with national unity coalition. Greece will then have to negotiate new bailout deal in order to pay €240bn still owed to Troika

€1.55 billion

€240 billion

Sources: IMF, ECB, news agencies

*Troika comprises International Monetary Fund, European Union and European Central Bank

Picture: Associated Press