Greek PM Alexis Tsipras called a referendum an hour after midnight as Friday turned into Saturday, calling on voters to decide on creditors’ most recent proposal to Greece for a cash-for-reforms deal instead of his Cabinet, government and Parliament.

In calling the referendum and delineating the question — on the creditors’ latest proposal, and not his own government’s earlier eight-billion-euro package of tax-and-tax measures — Tsipras said his coalition government and SYRIZA party will back an unequivocal “no”.

Having called the referendum in the middle of the night and picking a date, July 5, which comes days after the second bailout ends on June 30, the radical left government’s FinMin, Yanis Varoufakis then appeared hours later before his Eurogroup peers to ask for a one-week extension to the bailout deal. As ATMs were quickly draining around Greece and tourist bookings increasingly cancelled in the wake of the shock announcement, Eurogroup FinMins, all 18 sans the 19th, Yanis, said “no”, in turn.

Here’s Varoufakis’ response: