Eurozone rules out Greece debt talks until after referendum

PanARMENIAN.Net - Eurozone finance ministers have ruled out any further talks on a fresh bailout for Greece until the country holds its referendum on Sunday, July 5, according to BBC News.

Greeks will be asked to accept or reject proposals made by creditors last week, with Prime Minister Alexis Tsipras urging a "No" vote.

Finance Minister Yanis Varoufakis accused the creditors of blackmail. But he pledged a deal would be reached soon after the vote and that current limits on bank withdrawals would ease.

Greek banks did not open this week after the European Central Bank froze their liquidity lifeline. Withdrawals from cash machines are capped at just €60 ($66) a day but some bank branches reopened on Wednesday to allow pensioners - many of whom do not use bank cards - a one-off weekly withdrawal of up to €120.

Many had waited outside banks from before dawn, only to be told to return on Thursday or Friday. Television footage showed queues forming again early on Thursday.

Some pensioners were told their pensions had not yet been deposited.

Greece's left-wing Syriza government, elected on an anti-austerity platform, has been in deadlock with its creditors for months over the terms of a third bailout.

With the previous eurozone bailout expired, Greece no longer has access to billions of euros in funds.

Athens missed the deadline for a €1.5bn (£1.1bn; $1.7bn) repayment to the International Monetary Fund on Tuesday.

Last weekend, the Greek government took the unilateral decision to hold a vote. EU leaders have warned that a "No" vote may see Greece leave the eurozone - though Tsipras says he does not want this to happen.