Alexis Tsipras has called on the Greek people to remain calm as the country edges closer to a possible exit from the euro in a broadcast on state TV in Greece.
"We ask you to reject it [the referendum] with all the might of your soul, with the greatest margin possible," he said last night - arguing that the bigger the mandate given to the Government, the more it would help the country when trying to negotiate new bailout terms.
Having asphyxiated banks & denied extension request, is it reasonable to expect that IMF installment will be paid tomorrow? #ert #Greece
— Alexis Tsipras (@tsipras_eu) June 29, 2015
It is unclear if the country will get a chance to renegotiate - during his a fiery speech yesterday President of the European Commission, Jean-Claude Juncker warned that a no vote on Sunday is a rejection of euro membership.
However, there are no existing mechanics to expel a country from the monetary union, and Greek finance minister Yanis Varoufakis has warned that the country is ready to take legal action to counter such a move.
“Greece has threatened to seek a court injunction against the EU institutions, both to block the country’s expulsion from the euro and to halt asphyxiation of the banking system,” he told The Telegraph.
The country's €1.6bn repayment to the IMF is due tonight. Greece's bailout deal also expires at 11pm tonight.
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Ukraine is also in financial turmoil, the country meets with international creditors, including the IMF and the country is expected to request a 40 percent writedown on its $23bn debt.
Its debt envoy chief, Vitaly Lisovenko revealed the country's plans to Reuters, he said, "My personal opinion and sincere belief is that all the parties involved have enough information necessary for making a quick decision."
Failure to secure a new deal could result in a temporary suspension of repayments, this could push the country towards a broader default.
When asked if he is afraid of institutions seizing Ukrainian assets, Mr Lisovenko replied, "There are no assets, unfortunately."
The country is due to repay $500m to creditors in September.
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12 former Clerys concession holders are considering an application to the High Court next week to block the appointment of KPMG as liquidators to OCS Operations Ltd, the company which ran the shore.
Irish Times reports that concession holders are understood to be suggesting that a conflict of interest exists as the firm is auditor to a number of companies associated with Deirdre Foley's D2 Private firm - a member of Natrium Ltd, the joint venture which acquired OCS Operations and related companies in mid-June.
On the day that Clerys was sold Natrium transferred ownership of OCS Operations to Jim Brydie for €1. He then petitioned the court to have KPMG appointed as provisional liquidators - this appointment is yet to be confirmed.
According to the IT, acting on behalf of 12 concession holders, Michael Lavelle was written to McCann Fitzgerald - who will represent the liquidator - to seek clarifications regarding the potential conflict of interest.
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British consumer confidence hit its highest level in 15 years as shoppers loosened their purse strings heading into the summer months.
Research company GfK, who carried out the study, said that a pick-up in wages and a 50-year low in inflation have boosted disposable income.
"We're seeing a dramatic uptick in confidence this month, a real post-election bounce that's put a spring in the step of consumers across the UK," said GfK's Joe Staton.
