• Live
    • Audio Only
  • google plus
  • facebook
  • twitter
News > World

Greek Conservative Opposition Leader Announces Resignation

  • Greece's conservative opposition chief Antonis Samaras, pictured on January 23, 2015, on Sunday announced his resignation.

    Greece's conservative opposition chief Antonis Samaras, pictured on January 23, 2015, on Sunday announced his resignation.

Published 5 July 2015
Opinion

Head of right-wing New Democracy party Antonis Samaras resigned hours after Greek people rejected his calls for a “yes” vote on continuing austerity.

Greece's conservative opposition leader Antonis Samaras announced Sunday his resignation hours after the Greek people voted “no” in a referendum on proposals by the country's creditors to further austerity measures.

"I understand that our great movement needs a new start. From today I am stepping down from the leadership," Samaras, the head of New Democracy party and a former prime minister, said in a televised address.

The New Democracy party had campaigned for a 'Yes' result in Sunday's referendum, echoing warnings from European officials that a rejection of European Union and the International Monetary Fund's proposals to continue austerity in exchange for aid could see a Greek exit from the euro zone.

RELATEDWhat’s Next for Greece After the ‘No’ Vote?

Meanwhile, later tonight, the Bank of Greece will request additional liquidity from the European Central Bank (ECB) through the mechanism of emergency loans (ELA), Greek government spokesman, Gavriil Sakellaridis said Sunday.

"Tomorrow the ECB governing council meets. There are valid arguments in favor of a major funding as part of ELA " said Sakellaridis as he expressed his confidence that an understanding of the necessity to find a viable solution, will eventually prevail.

Last Sunday, the ECB cut funding to Greek banks through ELA loans, prompting the government to impose drastic restrictions on financial transactions and withdrawals from ATMs.  

RELATED: Greece's Economic Crisis for Dummies

VIDEO: Greek Voters Reject Bailout Offer

Comment
0
Comments
Post with no comments.