Tsipras urges Greeks to vote ‘no’ – Investec

FXStreet (Barcelona) – The Investec Team shares their observation regarding the Greece referendum issue, noting that Greek PM Tsipras has urged voters to vote ‘no’ to the creditor’s proposals.

Key Quotes

“Greek Prime Minister Alexis Tsipras showed his hand yesterday on Greek television while 12,000 people gathered in the central Syntagma Square with banners that read “our lives do not belong to the creditors”.”

“PM Tsipras, has urged voters at Sunday’s referendum to vote ‘no’ to the creditor’s ‘take it or leave it’ proposals, to give his party more negotiating power when they return to the table. The PM told ERT TV that European leaders wouldn’t throw his country out of the Euro, saying the costs would be “enormous”. A huge gamble considering the Greek government owes the IMF 1.7 billion Dollars at 11pm tonight (UK time), with the second bailout expiring at the same time.”

“Worth noting the three major credit rating companies say failure to pay the Washington based IMF wouldn’t constitute a default, because that term is reserved for private sector creditors – which the IMF is not.”

The Investec Team shares their observation regarding the Greece referendum issue, noting that Greek PM Tsipras has urged voters to vote ‘no’ to the creditor’s proposals.

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