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Greek crisis: Key events since referendum called

10 July 2015, 16:17 CET
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(ATHENS) - Following is a timeline of events in the Greek crisis since Prime Minister Alexis Tsipras called a surprise referendum on financial bailout conditions:

June 27: Tsipras upsets talks with Greece's creditors by calling a referendum on July 5 on whether to accept proposed conditions for more aid.

Tsipras claims the measures target "the humiliation of an entire people."

Eurogroup head Jeroen Dijsselbloem says Greece has closed the door for further talks and that the eurozone's current bailout should expire when it reaches the June 30 deadline.

June 28: Tsipras says banks will close and capital controls will be installed. Greeks are limited to daily cash withdrawals of 60 euros ($67)

June 30: Greece defaults on 1.5 billion euros in loan payments to the International Monetary Fund (IMF), the first industrialised country to do so.

July 1: Tsipras urges Greeks to vote 'No' in the referendum because it would mark a "decisive step for a better deal."

July 2: The IMF cuts its 2015 Greek economic growth estimate from 2.5 percent to zero, and puts Greece's aid needs at 36 billion euros over the next three years. The IMF also says Greece's debt must be restructured.

July 3: The European Financial Stability Facility (EFSF), an emergency fund, says Greece is officially in default, but that there are no immediate financial consequences.

July 5: Greek voters reject terms of a bailout proposition with 61.31 percent voting 'No', boosting Tsipras.

- Tsipras says the vote "is not an mandate of rupture with Europe, but a mandate that bolsters our negotiating strength to achieve a viable deal". He warns creditors: "This time, the debt will be on the negotiating table."

July 6: Yanis Varoufakis resigns as Greek finance minister and is replaced by Euclid Tsakalotos, who has been steering talks with European Union and IMF creditors.

- The European Central Bank maintains a key cash lifeline to Greek banks, but with tighter conditions.

July 7: Eurozone finance ministers meet in Brussels ahead of an extraordinary summit of eurozone heads of state and government. They give themselves until July 12 to decide on more aid for Athens.

EU Commissioner for the euro Valdis Dombrovskis warns Greece it could be forced out of the eurozone if "no credible reform package" is presented.

July 8: Tsipras addresses the European Parliament, says Greece will submit "credible" reform plans.

Greek officials ask for a new three-year aid package in exchange for efforts to trim the government's budget.

July 9: Greece submits a new bailout plan in Brussels two hours before a midnight deadline. It includes most of the conditions previously demanded by creditors.

July 10: Dijsselbloem says that a eurozone finance ministers meeting the next day will make a 'major' decision regarding Greece.

- The Greek parliament is asked to approve new talks on the latest bailout offer later in the day.

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