Greece Declared In Default Ahead Of Referendum

PM Alexis Tsipras has urged Greeks to vote 'No' in Sunday's referendum.

PM Alexis Tsipras has urged Greeks to vote 'No' in Sunday's referendum.

PM Alexis Tsipras has urged Greeks to vote ‘No’ in Sunday’s referendum.

Greece was officially declared in default on Friday, injecting even more urgency into a make-or-break weekend referendum that new polls suggested was too close to call. The fund providing Greece’s financial lifeline declared “an event of default by Greece.” The European Financial Stability Facility added, though, that it had decided to not immediately demand repayment of its loans-  a step that analysts say could have triggered sudden Greek exit form the eurozone. Stakes were already high before the EFSF announcement, with EU leaders warning a ‘No’ in the plebiscite would jeopardise Greece’s place in the 19-nation eurozone. But Greek Prime Minister Alexis Tsipras rejects that, insisting a ‘No’ result would strengthen his hand and force international creditors withholding bailout funds to drop “humiliating” austerity terms. The two latest polls published Friday showed voter intentions were effectively tied. An Alco institute poll found 44.8 percent of Greeks intend to vote ‘Yes’ and 43.4 percent are for ‘No’. A Bloomberg survey for Greece’s Macedonia University was equally split, showing 43 percent to vote ‘No’ and 42.5 percent ‘Yes’.

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Chukwunonso Azinge is a Public health parasitologist whose variety of intrests ranges from international news reportage, writing articles on current world issues and of course football. Follow me on Twitter @azingelfc and on Facebook- Nonso 'King Kenny' Azinge.

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