European Parliament president Martin Schulz said his faith in the Greek government had reached ‘rock bottom,’ and that he hopes it resigns after Sunday’s referendum.
Prime Minister Alexis Tsipras has urged citizens to vote against European Union and International Monetary Fund bailout conditions in the plebiscite Sunday. Tsipras announced the balloting after talks with creditors broke down, leading Greece to default on a debt payment and stoking fears it could crash out of the euro.
Schulz on Thursday told German Handelsblatt business daily that ‘new elections would be necessary if the Greek people vote for the reform programme and thus for remaining in the eurozone and Tsipras, as a logical consequence, resigns.’
This post was published at David Stockmans Contra Corner on July 3, 2015.
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