Roundup: Greek PM appears defiant, saying Sunday's referendum not on euro

Greek Prime Minister Alexis Tsipras appeared defiant in a televised message to the nation on Wednesday as Greece became the first advanced economy in decades in arrears status to the International Monetary Fund, moving closer to the brink of default and a possible Grexit.

The referendum he called on Saturday for July 5 on the creditor's offer for a reforms-for-cash debt deal is not on whether Greece will stay in the euro zone or leave it, he insisted.

He argued that the referendum call that since then has triggered dramatic developments was a means to add pressure on lenders and secure an agreement on better terms for Greek people.

Greece remains at the negotiating table, he stressed, blasting once again at the same time his interlocutors for issuing ultimatums and trying to blackmail Greek voters into signing up to a "humiliating" debt deal.

The latest emergency Eurogroup teleconference that was called to examine the last updated Greek proposal that was tabled in the past few hours ended shortly afterwards with a clear message to Athens: there will be no further discussion on a deal and a new support program until Greek people give their verdict on Sunday.

Tsipras put again all the blame on the doorstep of the lenders for the difficulties Greek people face and the chaotic scenes outside bank branches on Wednesday when thousands of elderly pensioners queued for hours to get a maximum 120 euros per person from their bank accounts.

Ruling Radical Left SYRIZA party MEP Dimitris Papadimoulis openly accused in particular the German government of aiming to undermine Tsipras' administration and finish the negotiations with a more "cooperative" government.

"Merkel and Schaeuble show clearly that they seek the Greek government's collapse and not an agreement," he tweeted.

Opinion polls and comments by people on the streets and in social media show that the Greek society is divided between Yes and No.

Some support with passion the government's stance and prefer to take the risk of a fast death rather than accept the terms of a deal they consider as "recipe to a slow execution."

However skepticism and strong reactions to the conduction of the referendum that could lead to Grexit, according to officials and analysts, is also widespread in Greece.

In particular since financial analysts such as Kostas Stoupas warned in local media that as early as next week the government could be forced into a bail-in as it happened in Cyprus three years ago.

Should Greece not secure any deal with creditors soon, with state coffers running empty and with no more Emergency Liquidity Assistance by European partners to Greek banks, the Greek Premier and his economic team will be left with not many options, he argued.

"In no way will there be a bail-in," Finance Minister Yanis Varoufakis said asked by media outside the Ministry on Wednesday evening.

Representatives of dozens of key public and private sector bodies, institutions and citizens' groups who set up the 'YES to Greece, YES to the Euro' Support Committee highlighted the consequences that a 'NO' vote might have at a press conference held in Athens.

Greek Tourism Confederation chairman Andreas Andreadis, who also represented the Greek Industries Federation, The Hellenic Confederation of Professionals, Craftsmen and Merchants and The Hellenic Confederation of Commerce and Entrepreneurship, warned that a 'NO' vote would result in dramatic consequences.

"There is no other option for Greece than the euro-zone. The nation's dignity can only be achieved through personal endeavor, collective efforts and the acquisition of knowledge and this can only happen within the Euro zone," he underlined characteristically.

Meanwhile the legality of the referendum was being disputed domestically and abroad. Two Greek citizens submitted a formal request to Greece's top administrative court to stop the referendum as unconstitutional. The verdict was expected to be announced on Friday.

In addition, the head of the Council of Europe, Europe's top human rights institution, also noted that the Greek referendum falls short of international standards as it is held in a short notice and does not give enough time to citizens to be fully informed on the arguments. Endit