Yanis Varoufakis will resign if Greek people vote Yes in referendum

Yet the prospect of an imminent breakthrough was nearly immediately quashed by Greece’s main creditors, including economic powerhouse Germany, even as Washington continued to press for both sides to reach a compromise.

He blamed Greece’s euro zone partners for forcing the European Central Bank to freeze vital funding to the banks. The outlook is worse now.

Brussels, AFP – Greek prime minister Alexis Tsipras has vowed to push ahead with a controversial bailout referendum despite pressure from European leaders, and urged creditors to accept a fresh reform offer by Athens.

But Tsipras has also been adamant he does not want any more bailouts involving just loans — rather a different “growth pact” with Europe that will allow the economy to emerge from a depression.

Specifically, creditors wanted Greece to cut government spending to nurture economic growth, but Tsipras rejected the demands because he feels a reduction in spending will take money from workers’ wages and pensions.

“That suggestion is simply wrong”, Mr. Dijsselbloem said in the Netherlands.

European officials and the Greek opposition have warned a “No” outcome Sunday could be tantamount to a decision to leave the euro.

Hollande said it was the responsibility of other countries that use the shared currency to keep Greece in the Eurozone. It’s up to the Greeks to respond.”. That’s to stop people from withdrawing all their cash, which the banks couldn’t possibly honor.

Banks have been closed all week to prevent a crash from mass money withdrawals, while a few have been reopened to help pensioners without ATM cards.

“We will wait for the referendum”, Chancellor Angela Merkel told the German Parliament. However the “No” vote share was down compared to before capital controls were introduced on Sunday.

GIORGOS HAZIDIMITRAKIS, Greece (through interpreter): Whether they give me only 120 euros or not, it’s the same thing.

The question on Sunday’s ballot is whether voters accept or reject a reform proposal made by creditors during negotiations last week. It was amended later in the week and has now been rendered moot by the fact that Greece’s global bailout expired Tuesday.

The global Monetary Fund (IMF) has defended its refusal to let Greece delay a payment, contending that agreeing to Athens’s request would not have alleviated the debt-burdened nation’s distress, Efe news agency reported.

Dijsselbloem said it will be “incredibly difficult” to build a new bailout package for Greece if the country votes “no.”.

He said: “The failure of the Greek government to make its scheduled payments to the global Monetary Fund and the expiry of Greece’s financial assistance program have served only to add to the developing crisis in that country”.

“Come Monday, the Greek government will be at the negotiating table after the referendum, with better terms for the Greek people”, Tsipras said in a Twitter message posted as he spoke on national television.

“Maybe we’ll change the configuration of the government because some of us will not be able to stomach it”, he said.

Whether it’s a service such as the Samaritans, a family member, friend or neighbor, we should all take a leaf out of Rita’s book and ask for help when we need it. “I’m in total agreement with [banks] closing”. The queues are nothing next to all the suicides, the soup kitchens and the homeless on the streets of Athens.”.

French Finance Minister Michel Sapin says Europe remains committed to avoiding “catastrophe” for Greece and keeping it in the Eurozone.

Business associations and the country’s largest labor union have urged the government to cancel the referendum, while two private citizens have appealed to the Council of State, the country’s highest court, to rule the vote unconstitutional.