Rajoy calls urgent meeting over Greek stalemate
Monday, June 29, 2015 @ 8:12 AM
PRESIDENT Mariano Rajoy has called a meeting at first light today (Monday) to discuss possible strategies in the event of a 'Grexit' after negotiations broke down between Europe and Greek president Alexis Tsipras when he announced a referendum.
Rajoy has been closely following talks between Greece and the 'Troika' for the past two days, and has decided to convene a crisis session with the Commission for Economic Affairs in the Moncloa Palace, Spain's answer to 10 Downing Street or the Whitehouse.
Tsipras' referendum, to be held on July 5, is to find out whether or not the Greeks themselves are prepared to accept the Troika's loan conditions, which will mean certain austerity measures.
If they do not, it is possible Greece will have no choice but to leave the Eurozone.
As well as causing the EU to cease all negotiations, the referendum decision is likely to affect financial markets.
The Economic Affairs Commission in Spain comprises the ministries of the economy, employment, public works and infrastructure, industry, agriculture, and the treasury, and the secretaries of State for these departments.
Read more at thinkSPAIN.com