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Greek PM urges no vote in referendum for bailout deal

WATCH ABOVE: Timelapse shot of people queuing for cash.

ATHENS, Greece – Greece’s parliament has voted in favor of Prime Minister Alexis Tsipras’ motion to hold a referendum on the country’s creditor proposals for reforms in exchange for loans.

Tsipras and his coalition government have urged people to vote against the deal, throwing into question the country’s financial future.

READ MORE: Eurozone denies extension to Greek bailout

Speaking in parliament, Tsipras said the reforms proposed by Greece’s creditor institutions — the International Monetary Fund, European Central Bank and European Commission, were an ultimatum and an insult.

“We exhausted every limit of concessions so there could be an agreement,” Tsipras said. “Perhaps some saw that as a weakness.”

He said the Greek people would vote against a deal on June 5.

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“This no will also be a big yes, a big yes to the decision of the Greek government to reject an ultimatum that insults the Greek people.”

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