Greece prepares for bailout referendum


(MENAFN- The Journal Of Turkish Weekly) Greece was preparing for a referendum on the bailout proposals from its creditors on Saturday after rallies the previous evening heard opposing arguments for voting "Yes" or "No".

On Sunday, Greeks will be asked to approve or disapprove of a plan from the European Commission, the European Central Bank and the International Monetary Fund - known as the troika - to help resolve the country's fiscal crisis.

However, the vote has largely become about whether Greece will remain in the eurozone. A vote against the troika's scheme to raise taxes and slash spending so Greece can meet its debt obligation is seen as a vote against the euro.

Prime Minister Alexis Tsipras has called for a "No" vote, accusing the country's creditors of "blackmail".

At a rally in Athens attended by around 50,000, Tsipras called the referendum a battle for democracy, freedom and European values and told Greeks to "turn your backs on those who terrorize you daily," the English language Greek Herald reported.

"On Sunday, we are not just deciding that we are staying in Europe but that we are deciding to live with dignity in Europe," he told the crowds gathered at Syntagma Square.

At a nearby "Yes" rally in front of the ancient Panathenaic Stadium, voters were told a rejection of the proposal would see Greece ejected from the eurozone.

"I voted for Tsipras but he deceived us, what will happen if we go out of the euro?" Alexis Spirou, 54, told Anadolu Agency as he listened to speakers at the rally with his young family. "I thought he was going to be different but he isn't" I will vote 'Yes'."

Rallies, which marked the end of campaigning on the referendum, were also held in 10 other cities.

Earlier, a court rejected a challenge to the referendum, clearing the way for Sunday's vote, and there were scuffles between protesters and riot police outside the finance ministry in Athens.

Greece's bailout program ran out on Tuesday when it defaulted on a 1.5 billion euro ($1.6 billion) repayment to the International Monetary Fund. Banks have been shut all week and restrictions imposed on withdrawals while shops have begun reporting shortages of basic foodstuffs and medicines.

Opinion polls suggest the country is evenly split between the two camps, with 44 percent in favor of a "Yes" vote and 43 percent for "No".

Polling stations open at 7 a.m. local time (0500GMT) and close at 7 p.m. (1700GMT). The first reliable results are expected two hours later when around 10 percent of the ballots are expected to have been counted, according to SingularLogic, the software company that will handle the count.


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