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EC President: Referendum Unable to Strengthen Athens' Negotiating Position

© AP Photo / Mindaugas KulbisDonald Tusk
Donald Tusk - Sputnik International
European Council President Donald Tusk claims that regardless of its results, the bailout referendum in Greece will not strengthen the position of Athens in negotiations with its creditors.

MOSCOW (Sputnik) — Regardless of its results, the bailout referendum in Greece will not strengthen the position of Athens in negotiations with its creditors, European Council President Donald Tusk said Monday.

Greek Prime Minister Alexis Tsipras (bottom R) acknowledges applause during a parliamentary session in Athens, Greece June 28, 2015 - Sputnik International
Greek Parliament Authorizes Referendum on Bailout Program
On Saturday, Prime Minister Alexis Tsipras announced that a snap referendum on whether to accept a bailout proposal by Greece’s creditors in exchange for unpopular austerity measures would take place on July 5.

Tsipras himself backs a 'No' vote arguing that a rejection of international creditors' proposal by the public would better arm Athens in future possible talks with the lenders.

Greece's current bailout program expires on Tuesday. On the same day, the country is due to transfer the next $1.7-billion payment to the International Monetary Fund (IMF).

If Greece defaults, it could be forced to leave the single currency monetary union and possibly the European Union.

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