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Timeline: Ten days in the Greek debt crisis

(Agencies/chinadaily.com.cn) Updated: 2015-07-06 13:35

Sunday, July 5: Referendum

Timeline: Ten days in the Greek debt crisis

Protesters chant slogans and hold placards as they stand outside the venue for a meeting between Australia's Prime Minister Tony Abbott and 40 of the nation's most influential indigenous representatives in Sydney, Australia, July 6, 2015.  [Photo/Agencies]

Greeks reject creditors' bailout terms with over 61 percent voting 'No' in the referendum, prompting Eurozone nations to announce a summit for July 7.

Tsipras hails the referendum result as "a very brave choice and a bright page in modern European history" and insists it does not mean a break with Europe.

But the head of the Eurogroup of eurozone finance ministers, Jeroen Dijsselbloem, calls the result "very regrettable for the future of Greece".

Saturday, July 4: Eve of vote

As tensions grow on the eve of the vote, Varoufakis accuses Athens' creditors of "terrorism" and scare-mongering, denying reports that Greek savers could lose 30 percent of their deposits to shore up the banks.

Friday, July 3:

The EFSF declares "an event of default by Greece" after the missed IMF payment. It has nonetheless "decided not to request immediate repayment of its loans nor to waive its right to action," a statement says.

Tsipras calls for a 30 percent cut of the Greek debt and a 20-year grace period for the rest. Total Greek debt is 323 billion euros, or nearly 180 percent of its gross domestic product (GDP).

European Commission chief Juncker says Greece's negotiating position with creditors would be "dramatically weakened" in the event of a "No" vote.

Crowds gather at rival rallies in central Athens - the biggest of the referendum campaign - with Tsipras telling supporters a "No" vote would strengthen his hand in talks.

Thursday, July 2:

Greek Finance Minister Yanis Varoufakis says he will resign if voters do not back the government in the referendum. It has urged voters to reject the terms of a rescue package that has already expired but which could be the basis for future talks.

The IMF estimates that Greece needs 50 billion euros over the next three years, including 36 billion euros more from EU lenders, and debt relief to stabilise its finances.

Wednesday, July 1:

German Finance Minister Wolfgang Schaeuble presses Athens to "clarify its position on what it wants".

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