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2nd LD Writethru: Greece ready to cooperate with lenders on debt deal, says Greek FinMin

Xinhua, July 6, 2015 Adjust font size:

Greece was ready to cooperate with lenders to reach a mutually beneficial debt deal to resolve the Greek crisis, Greek Finance Minister Yannis Varoufakis said on Sunday evening after the first official results showed a strong lead of NO in the landmark referendum on the creditors' offer.

NO led by 61.3 percent of votes against 39 percent for YES in the ballot that could determine whether Greece will head to a disorderly bankruptcy and possible Grexit, according to the latest official estimate released by the Interior Ministry with about 61.3 percent of votes counted.

With focus on the day after, as Greece's financial situation was dramatic in recent days, Varoufakis reiterated the Leftist government's commitment to the resumption of dialogue with lenders in order to achieve a viable reforms for cash deal as soon as possible.

"We are stretching a hand of cooperation to find the common ground," the Greek official said.

After all, the government's argument since calling the referendum a week ago was that a clear NO would boost its bargaining position in talks.

However in another sign of the remaining tensions between the two sides, Varoufakis accused creditors of leading Greece to the impasse after five months of negotiations on purpose and of forcing the bank holiday last week to humiliate Greek people and secure a bad deal for Greece.

"Greek people handed back their ultimatum... NO means YES to a democratic Europe and the EU's vision for prosperity," the Greek minister said.

Earlier cabinet ministers stressed that the government wanted a debt deal within 48 hours, as the country's banking system was under unprecedented pressure.

Since last Monday Greek banks are closed and capital controls have been imposed to avert the sector's collapse after the European emergency liquidity aid to the local banking system was cut off.

Greek officials have admitted that ATMS will run out of cash on Monday with no more financial support from creditors.

Proponents of the YES in Greece and analysts have warned that if the lenders will not "cooperate" as the Greek government expects in coming hours and a debt deal is not clinched, Sunday's NO may push Greece to disorderly default and jeopardize its membership in the euro with catastrophic consequences for the Greek economy and society. Endit