Search results
Results from the WOW.Com Content Network
Questioned on whether the referendum would be a euro-drachma dilemma, Greece's finance minister, Yanis Varoufakis, said that European Treaties make provisions for an exit from the EU but do not make any provisions for an exit from the Eurozone. A referendum as a choice involving exit from the Eurozone would violate EU Treaties and EU Law. [57]
Despite the claims by analysts abroad and in Greece [34] that the referendum might open the way for Greece's withdrawal from the Eurozone, and despite polls showing that Greek citizens would prefer keeping the common currency "at all costs," [35] [36] the referendum, conducted on 5 July 2015, returned a result of 61.3% for "No" and 38.7% for "Yes."
Faced by the threat of a sovereign default and potential resulting exit of the eurozone, some final attempts were made by the Greek government in May 2015 to settle an agreement with the Troika about some adjusted terms for Greece to comply with in order to activate the transfer of the frozen bailout funds in its second programme.
Grexit is Greece's potential exit from the eurozone, while Brexit is the United Kingdom's potential exit from the European Union.
For premium support please call: 800-290-4726 more ways to reach us
In the wake of Greece's debt crisis, the economic union of the European countries that share the euro as their common currency has been tested as never before. Some have suggested that the debacle ...
Dutch Prime Minister Mark Rutte said the cancellation was a good decision amidst possible eurozone impatience with Greece. "It was a bizarre proposal. We think it’s of great importance to the eurozone that we prevent Greece from going bankrupt. But in the end, the euro is more important than Greece’s membership of the eurozone."
5 not in ERM II, but obliged to join the eurozone on meeting the convergence criteria (Czech Republic, Hungary, Poland, Romania, and Sweden) Non–EU member states 4 using the euro with a monetary agreement ( Andorra , Monaco , San Marino , and Vatican City )