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France: Greek referendum represents country's "sovereign choice" - Hollande00:38

France: Greek referendum represents country's "sovereign choice" - Hollande

France, Paris
June 29, 2015 at 02:47 GMT +00:00 · Published

It is the "sovereign choice" of the Greek state to consult the citizens of Greece on whether to accept the bailout conditions set by the country's international creditors, French President Francois Hollande said in a statement to the press at the Elysee in Paris, Monday.

"This is democracy, it is the right of the Greek people to decide what they want for their future," Hollande said, adding that he thought Greece belongs inside the euro zone.

Greece is due to pay the International Monetary Fund €1.60 billion ($1.80 billion) by Tuesday, among other payments that are due at later dates.

The Greek government announced that banks will be closed for a week and introduced limits on cash withdrawals of €60 ($67) per day in Athens on Monday. Greek Prime Minister Alexis Tsipras stated that the government had no choice but to close the banks, after the European Central Bank declined to provide further emergency liquidity assistance to Greece’s banking system. The banks are to remain shut until a referendum on Sunday, in which residents will vote on the bailout conditions set by Greece’s international lenders.

France: Greek referendum represents country's "sovereign choice" - Hollande00:38
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It is the "sovereign choice" of the Greek state to consult the citizens of Greece on whether to accept the bailout conditions set by the country's international creditors, French President Francois Hollande said in a statement to the press at the Elysee in Paris, Monday.

"This is democracy, it is the right of the Greek people to decide what they want for their future," Hollande said, adding that he thought Greece belongs inside the euro zone.

Greece is due to pay the International Monetary Fund €1.60 billion ($1.80 billion) by Tuesday, among other payments that are due at later dates.

The Greek government announced that banks will be closed for a week and introduced limits on cash withdrawals of €60 ($67) per day in Athens on Monday. Greek Prime Minister Alexis Tsipras stated that the government had no choice but to close the banks, after the European Central Bank declined to provide further emergency liquidity assistance to Greece’s banking system. The banks are to remain shut until a referendum on Sunday, in which residents will vote on the bailout conditions set by Greece’s international lenders.