"To stay or not to stay," that is the question for Greeks ahead of Tuesday's default to the IMF and a historic referendum set for this coming weekend.
With the ATMs running dry and lines forming at gas stations and grocery stores, Greeks are understandably restless and have once again gathered en masse in Syntagma Square.
(Live feed)
As a refresher, this is where things stand:
Earlier today, as the exchange between Greece and its creditors got increasingly belligerent, Estonian Prime Minister Taavi Roivas told public broadcaster Eesti Rahvusringhaaling in interview that a possible Greek decision to leave euro area wouldn’t soften stance of other EU countries and that Greece’s debt would still remain outstanding and creditors would expect this money back."
"If Greece leaves, the value of their new national currency would decline very fast, so their solvency would still worsen further. They will either have to cut spending or improve their tax revenues. There are no other options."
So did this latest antagonism change the Greek mind? According to a flash headline by the WSJ released moments ago, not all. In fact, Greece just made it official that it would default to the IMF in just over 24 hours.
Greece won't pay IMF tranche due Tuesday, government official says http://t.co/xnCG6c6baX [7]
— WSJ Breaking News (@WSJbreakingnews) June 29, 2015 [8]
And earlier today:
With Europe making it very clear that unless Greece folds in the next 48 hours, there will be no deal on which the Greeks will be conducting their "Greferendum" as Greece will be programless after June 30, there has been ample confusion about just what the wording of the ballot will be to which the Greek population will say Nai or Oxi. As the following latest snapshot confirms, even the Greek side is rather confused and is now essentially telling people to vote on a deal that was proposed once (on June 25) and may or may no longer be relevant.
[9]
This takes place even as moments ago Germany's minister for economic affairs Sigmar Gabriel explained just what a No vote would entail:
- GERMANY GABRIEL: GREEK NO VOTE A VOTE FOR EURO AREA EXIT
Even though there was clearly some confusion as the push to set the narrative begins:
- MERKEL SAYS NONE OF US WANT TO TELL GREEK PEOPLE HOW TO VOTE
A clear lie as just moment prior we got this:
- JUNCKER: I WOULD LIKE TO ASK GREECE TO VOTE 'YES'
