Greece Takes Action: Vehicles Confiscated for Speeding Infractions
In a sweeping move aimed at curbing reckless driving and enhancing road safety, Greece has implemented stringent measures against speeding motorists
HOT: » Assessing the Legacy of Bulgaria's "Denkov" Cabinet: Achievements, Failures, and What Comes Next
Greece’s left-wing government plans to ask the country’s citizens on Sunday whether to accept or reject the demands of its creditors for extended bailout funding needed to avert a default.
As Reuters reported on Monday, Greeks will have to answer by ‘No’ or ‘Yes’ to the following question in a referendum on 5 July: "Should the proposal that was submitted by the European Commission, the European Central Bank and the International Monetary Fund at the Eurogroup of June 25, 2015, which consists of two parts that together constitute their comprehensive proposal, be accepted?"
While the government in Athens has called on Greeks to vote ‘No’, as it expects this answer will strengthen its position in negotiations with international lenders, eurozone leaders have made it clear a ‘No’ will mean Greeks want their country to exit the eurozone.
European Commission President Jean-Claude Juncker on Monday urged Greeks to vote ‘Yes’ in the bailout referendum, adding the reform proposals rejected by the Greek government last week were "a demanding and comprehensive package but a fair one".
A ‘Yes’ vote will mean Greeks are accepting a deal that will allow their country to get its bailout money - in exchange for economic reforms and austerity measures. A ‘No’ vote will mean the Greek government will have to find a way to go it alone - and likely default on its debt obligations soon afterwards.
Eurogroup chairman Jeroen Dijsselbloem said on Monday the door remains open for Greece despite the breakdown of bailout talks over the weekend, but “the possibilities and time are very limited."
Greece looks increasingly likely to default on an IMF debt payment of some EUR 1.6 B due on Tuesday following the breakdown of debt talks with creditors on Saturday – a development that could become the first step on a path that could ultimately lead the country to falling out of the euro.
And Italian Prime Minister Matteo Renzi said that Greeks will have to decide on Sunday whether their country will remain in the eurozone.
"The point is: Greek referendum won't be a derby EU Commission vs Tsipras, but euro vs drachma. This is the choice," Reuters quoted Renzi as saying on Twitter on Monday.
We need your support so Novinite.com can keep delivering news and information about Bulgaria! Thank you!
The Czech Republic has revealed the dismantling of a vast network of Russian influence spanning across Europe, with Bulgaria among its targeted countries
The European Prosecutor's Office in Sofia has taken legal action against an individual suspected of fraudulent activities involving European subsidies, as announced by the Luxembourg-based institution
German arms manufacturer Rheinmetall has secured a substantial financial boost from the European Union, receiving over 130 million euros to enhance its ammunition production capabilities
Eurostat's recent publication on Wednesday showed insights into hourly labour costs across the European Union (EU) in 2023, indicating a notable rise compared to the previous year
A major security breach has taken place within the EU police service – Europol, as detailed by the online publication 'POLITICO'
Eurostat's 2021 data indicates that Bulgaria housed the three regions within the European Union exhibiting the highest standardized death rates
UN Happiness Report: Bulgaria's Astonishing Leap in Rankings
Bulgaria: 3 Regions With Lowest Life Expectancy - EU Report 2022