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'Up to Greece to act next', says Kenny

Enda Kenny and other EU leaders say itÂ’s up to Greece to make a new request for a bailout to end it...
TodayFM
TodayFM

12:54 PM - 6 Jul 2015



'Up to Greece to act next&...

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'Up to Greece to act next', says Kenny

TodayFM
TodayFM

12:54 PM - 6 Jul 2015



Enda Kenny and other EU leaders say itÂ’s up to Greece to make a new request for a bailout to end its debt crisis.

The comments come after yesterdayÂ’s Greek referendum which saw voters reject a bailout offer that would have come with harsh terms and conditions.

GreeceÂ’'s finance minister has meanwhile resigned, with his successor having only hours to put together a new proposal if itÂ’s to be considered at a Eurozone summit tomorrow.

A formal proposal for another aid package would have to be made at that meeting, as otherwise there is no basis for any further negotiation.

Separately, the ECB has yet to comment on whether it will continue to offer 'emergency liquidity assistance' (ELA) to Greek banks - a lifeline without which the banks will almost certainly run out of cash.

Even as it stands, it's reported that Greek banks are slowly beginning to deplete their cash reserves - and that banks may have run out of cash entirely within a couple of days, unless a new deal is struck that would ensure Greek banks can tap into the ECB's reserves without the risk of a bank run. 

Our political correspondent Gavan Reilly filed this report for Today FM's National Lunchtime News:



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