Timeline: After the Greek Bailout referendum

Eurozone leaders react to ‘OXI’ (No) vote against austerity measures referendum

Photo by: Reuters
Photo by: Reuters

Updated Jul 28, 2015

13:36- Greek Banks to stay close for a few more days

Reuters claimed that following the meeting four banking sources said that  the Greek government decided to keep banks closed for a few more days.

One senior banker told Reuters that "The bank holiday be extended, until Friday or next Monday."



12:26- Italian prime minister Renzi urges EU not to focus only on austerity

Italian Prime Minister Matteo Renzi wrote on his Facebook page urging EU countries to focus more on a solution to Greece’s debt and less on austerity measures.

Renzi wrote on his page that "we have been urging for months to talk not only about austerity and balance sheets but about growth, infrastructure, common policies on migration, innovation, the environment."

"If we remain immobile, prisoners to regulation and bureaucracy, Europe is finished. To build a different Europe will not be easy, after what has happened these past years. But it is the right time to try to do it, all together," Renzi added.

Italy’s secretary of state for European affairs Sandro Gozi told to Italian television that  "I don't think it is in anyone's interest to make Greece leave the monetary union."



12:16- European Central Bank’s Ewald Nowotny

The European Central Bank’s governing council member Ewald Nowotny said that eurozone countries have been interested in  keeping Greece within the eurozone.

Nowotny said that "I think we all have an interest that Greece may stay in the euro. But of course, we know this means that a number of actions have to be taken."

“I am convinced that what we've done so far is right and conforms with our rules. But one has to make new decisions every time. The development in Greece does not make this easier for us, I'm afraid," Nowotny added.

"It has become apparent that Greek banks have a tendency to run out of liquidity. One cannot keep banks shut indefinitely."


12:00- Eurogroup head Dijsselbloem says Greece needs to stay in Eurozone

Eurogroup head and Dutch finance minister Jeroen Dijsselbloem said that the main aim of EU should be to keep Greece within the eurozone although the referendum resulted with the victory of the “No” vote.

Dijsselbloem told reporters that the “No” vote "doesn't bring us closer to a solution right away. In fact, when proposals are rejected that only makes things more difficult."

"We are going to look, step by step, if we can save the process,” he added.

Dijsselbloem said that the Hague will evaluate Greece’s request for additional emergency funding under the European Stability Mechanism (ESM).

Speaking about the resignation of Varoufakis, Dijsselbloem said that he did not experience any personal problems during the negotiation process.


11:30-  European Commission thinks stability of eurozone is not at risk over referendum results

European Commission vice president Valdis Dombrovskis participated in a press briefing on Monday saying that "the stability of the euro area is not in question,” after the Greeks voted “No” to Europe’s bailout proposal.

"We have everything we need to manage the situation," Dombrovskis added.

"The place of Greece is and remains in Europe ... all sides need to act responsibly."

Dombrovskis conceded that the referendum result "has certainly made things more complicated."


11:20 - Tsipras speaks to European Central Bank Chief Draghi and Russia’s President Putin by telephone

Greek Prime Minister Alexis Tsipras phoned European Central Bank President Mario Draghi and Russian President Vladimir Putin on Monday about the problem of restoring liquidity to Greek banks. The possibility of Russian financial support has not been mentioned.  



11:15- No basis for new bailout negotiations: Germany

German government officials said on Monday that there is no “basis for new bailout negotiations.”

The spokesman for Chancellor Angela Merkel, Steffen Seibert, said in a news conference that “Greece is a member of the euro. It is up to Greece and its government to act so that
this can remain the case."    

"It depends now on what proposals the Greek government puts on the table," Seibert added.

Mentioning Greek Finance Minister Yanis Varoufakis’ resignation, Seibert said that Varoufakis’ “fiery declarations” distracted German and the other EU countries recently.

Seibert stressed that “policy positions were more important than personnel.”


10:50- French officials deny Hollande’s phone conversation with Tsipras

The office of French President Francois Hollande denied that there has been a phone conversation between Greek Prime Minister Alexis Tsipras and Hollande on Monday morning.

An official from Hollande’s office said that "There was no phone contact with Tsipras today."

The two leaders spoke on late Sunday on the phone, before Hollande’s meeting with German Chancellor Angela Merkel in Paris about the Greek referendum results.

TRTWorld and agencies