The Eurogroup meets in Brussels and could discuss a “plan B … – swissinfo.ch

The Eurogroup meets on Saturday in Brussels a disrupted by the announcement of a referendum in Greece on the supply of creditors stage and could discuss a “plan B”, just three days of a Greek default every time next.

The Greek prime minister, Alexis Tsipras, surprised everyone with his announcement of referendum for Sunday July 5, venturing into a bet that in 2011 it took office the Socialist Yorgos Papandreou.

The German Economy Minister and Deputy Foreign Minister, Sigmar Gabriel, was one of the first to react, saying to the Deutschlandfunk radio that the referendum “may make sense” and that European leaders “do well” in not considering Tsipras initiative “as a maneuver”.

With the severe countenance, Tsipras noted that the referendum of July 5 will consider the question will be “whether to accept or reject the proposal” to creditors .

The consultation will take place after the fateful date of June 30, in which Greece must pay the IMF a payment of 1,500 million euros, which can not perform because it’s empty coffers.

In his speech, the leader denounced as an attempt to “humiliate the Greek people,” the supply of the country’s creditors, the European Commission, the European Central Bank and the International Monetary Fund. According to a leaked document on Friday, five months these proposed extending the current bailout plan, which expires on Tuesday, giving Greece 15,500 million euros (12,000 million on the European side and 3,500 million IMF) in exchange for progressive and strict compliance with a series of reforms and adjustments.

According Tsipras, the offer is “an ultimatum that contravenes the principles and founding values ​​of Europe”, “an offer that will add an unbearable burden on the shoulders of the Greek people, and will undermine the recovery of the Greek economy and society. ” Earlier, the Greek government said the deadline extension and funding offered are very short and that the conditions consist of “recessive and socially destructive measures.”

The executive also criticized that a restructuring is not contemplated an unsustainable public debt, expected to reach 180% of GDP this year.

In the midst of this situation radically changed, the 19 finance ministers of the Eurozone will meet Saturday in Brussels from 12H00 GMT. The urgent issues which arise are how to ensure the financing of country by referendum, given that the rescue ending June 30 and that day Athens must pay to the IMF, and what to do to prevent Greek banks sinking due to cash withdrawals.

Tsipras said on Thursday it would just ask for a “short extension” of the current program for a period of a few days.

“Or (the Greeks) are willing to discuss the latest proposals or finance ministers speak of plan B,” confided one senior European official on condition of anonymity, adding that the creditors think “their proposals are really generous” to with Greece.

The Greek banks, which clients have withdrawn billions in cash in recent months, surviving on a line of emergency funding from the ECB.

The Greek prime minister’s office confirmed that the deputy prime minister, Yannis Dragasakis and Deputy Foreign Minister, Euclid Tsakalotos will meet Saturday with ECB President Mario Draghi.