On Sunday, July 5, Greece will have a referendum on whether to accept an accord with its creditors. This weekend could be Greece’s last chance to get a bailout, or possibly default to the International Monetary Fund.
Not only could this be catastrophic for Greece as a country, which also owes billions to the European Central Bank and European Commission, but it could be devastating for the Greek people, who are already limited to a maximum €60 (about US$67) ATM withdrawal in the wake of banks closing.
Everyone already seems to be under a tremendous amount of stress, as evidenced by recent pictures from overseas.
An older woman with “oxi” (“no” in Greek) stickers on her face joins a demonstration in Athens on Friday, July 3. This group is in favour of a No vote on whether Greeks should accept more austerity in return for bailout loans.
Most of Greece’s banks shuttered on Thursday, leaving Greece bracing for more chaos on the streets. Here, a member of Communist-affiliated PAME labour union shouts at police.
People stand on both sides of the issue. A referendum campaign poster calling for a Yes (“nai”) vote has been sprayed with graffiti that reads No.
Two people stop to read the paper on July 3. An opinion poll on Greece’s bailout referendum revealed that, so far, there is a slight lead for the Yes vote, at 44.8%, while the No vote came in at 43.4%.
Rallies draw crowds all over Athens. These supporters of the No vote think Greeks should not accept more austerity in return for a bailout.
On the other side, demonstrators voice their opinion with signs that read ”Yes to Greece, Yes to the Euro,” among dozens of Greek flags.
People are trying to drum up as much support as they can for their side of the vote. Here, a woman puts up a “Yes to Greece, Yes to the Euro” referendum campaign poster in Athens.
Greece closed down most of its banks on Thursday, fearing a rush of people trying to withdraw their money before the referendum. That hasn’t stopped people from lining up to withdraw from the remaining open ATMs.
Tensions run high on the streets. Here, police watching for riots detain a demonstrator before a rally organised by supporters of the No vote.
NOW WATCH: Money & Markets videos