Greek Prime Minister Alexis Tsipras has in a television address to the nation announced that he will hold a bailout referendum on July 5, as a way to search for a solution to his nation’s ongoing debt crisis.
In his televised address, the BBC quoted Tsipras, as saying that the austerity measures put in place now by the creditors were humiliating and unbearable, and therefore there was a need for a referendum.
The Greek government had earlier rejected the proposals, aimed at avoiding the country defaulting on its debt.
Greece has to make a Euro 1.5 billion International Monetary Fund (IMF) debt repayment on June 30.
Tsipras said existing austerity measures were violative of European rules and the basic rights to work, equality and dignity show that the purpose of some of the partners and institutions was not a viable agreement for all parties, but possibly the humiliation of an entire people.