Referendum trap pushes Greece closer to Euro-exit

By Costis Stambolis

Greek Prime Minister Alexis Tsipras’ surprise decision late Friday night to call a snap referendum on new bailout terms offered by its creditors, pitted Athens on a head-on collision with its eurozone partners pushing the country closer to a “Grexit”. The government’s momentous decision to call a referendum followed a supposed break-down of talks in Brussels, during which Greek negotiators huddled with officials from the EU, IMF and ECB in a bid to bridge the gap on economic reforms Greece should adopt to unlock EUR 15.3 bln of urgently needed funds before the bailout programme expired on June 30.

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