REPORT: Greece May Hold National Referendum On Its Future In The Eurozone

greece flag water

Photo: John D. Carnessiotis on Flickr

If true, quite a surprise report in Greece newspaper Kathimerini(via @lorcanrK):As pressure from Greece’s foreign creditors and austerity-weary citizens mounts on the government, Prime Minister George Papandreou is considering calling for a referendum on whether Greece should continue to tackle its debt crisis within the eurozone or by exiting the single currency.

A bill submitted in Parliament, paving the way for a referendum to be carried out, is to be discussed in coming days.

There’s a lot to be sceptical on in this report.

First of all, it doesn’t seem obvious (at least from our perch) that the pro-Euro side would win, giving Papandreou a huge mandate. Certainly the brutal austerity problems are not popular.

What’s more, it’s weird for this to come out amid Greece’s efforts to get more cash, since a departure from the euro would not be in the country’s creditors.

Tomorrow’s followup call between The Finance Minister and the Troika should be interesting.

NOW WATCH: Money & Markets videos

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.


Tagged In

greece moneygame-us