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> Economy

EU leaders adamant that referendum is about the euro vs. drachma

Greece's EU partners want the people to know that the question isn't about austerity, but ultimately about their European future. Are Greeks willing to make the sacrifice that EU leaders say will get them kicked out of the EU family?

Newsroom July 3 08:14

Eurogroup Chief Jeroen Dijsselbloem warned that Greece was likely to “have no place in the euro zone” if it voted “no” in Sunday’s referendum. Pointing out that the offer on which Greeks were being asked to vote had expired, he said that the referendum would show whether Greeks were willing to make the sacrifices required to stay ing hte currency bloc. “One illusion must be swept from the table: that if the outcome is negative then everything can be renegotiated and you will end up with an easier and more attractive package,” he said, underlining that far-reaching austerity measures are needed to put the Greek economy back on track (regardless of what the IMF has said concerning Greek debt not being sustainable).

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“If people say they don’t want that, there is not only no basis for a new program, there is also no basis for Greece in the eurozone. “His remarks contradict an interview that Prime Minister Alexis Tsipras had on private ANT1 on Thursday stating that a greater “no” result would give the government leverage for a better, faster deal.

On his part, France’s Prime Minister Manuel Valls said that the EU speaks with one voice. The Radical Left Coalition (SYRIZA) – Independent Greeks (ANEL) coalition has failed to divide the EU and create a possible conflict between the larger economies. “France and Germany have the same stand concerning Greece,” he said. “We are asking Greeks to vote with their eyes wide opened, understanding all the consequences of what ‘no’ could mean, managing to push Greek out of the Eurozone.

Even Italian Prime Minister Matteo Renzi – one of the leaders more friendly towards Greece – said: “It is not possible for Italy to reduce early retirement while Greeks continue to have it. The Greek government and Greek people need to understand that the question of the referendum isn’t Tsipras against the European Commission, but the euro or the drachma.”

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