The IMF has been left standing with its finger in it’s mouth after Greek Prime Minister Alexis Tsipras unexpectedly called a Greek referendum on whether to accept further austerity and encouraged the Greek people to vote “No”. The prospect slams the possibility of a Grexit firmly on the negotiation table and Monday may see the unexpected turn painted red in market charts.
Greek Prime Minister Alexis Tsipras has called a referendum on whether Greece should accept demands by the country’s creditors the IMF, ECB and European Commission. The decision comes on the heels of failed talks with the three lenders, after they demanded Greece increase taxes on workers, raise retirement age to 67 and impose a value-added-tax rate of 23% on all products and services in the recession-ridden country.
It’s Up To You, The People Of Greece
In a televised speech after midnight, Tsipras informed fellow Greeks of the July 5 vote and defiantly declared the IMF’s take-it-or-leave-it offer as an insult