Greece: What happens next?

JUL 5
Referendum: Greeks vote “NO” to European austerity policies, backing Prime Minister Alexis Tsipras’ (above left) bid to negotiate a new bailout to avoid default, a banking collapse and exit from eurozone

JUL 6
Greece’s outspoken finance minister Yanis Varoufakis (inset) resigns. Greek banks remain shuttered, with only about €500 million left in cash reserves €45.50 for each citizen

WEEK OF JUL 6

Tuesday: Eurogroup finance ministers hold meeting ahead of emergency summit of EU heads of state 

Wednesday: European Central Bank’s Mario Draghi (inset) must decide whether to increase or cut emergency liquidity assistance (ELA) to Greek banks. Ending ELA will trigger exit from eurozone

WEEK OF JUL 13
Negotiations on new €29 billion bailout deal with Tsipras government will need parliamentary approval in German Bundestag

Bailout must be available for Athens to pay bond redemptions to ECB
 
JUL 20 

€3.5 billion 

Source: Bloomberg, Financial Times
Pictures Associated Press