GREEK DEBT CRISIS – CRITICAL DATES: JUNE/JULY 2015

Greece asks IMF for

postponement of

debt instalment due

on 5 June until

30 June

Debt repayment

instalment due by

Greece to IMF

The Greek Prime

Minster, Alexis Tsipras,

pulls his negotiating team

out of talks with

international creditors

Greek PM, Alexis Tsipras,

announces referendum

due on 5 July on

international creditors’

bailout terms

Closure announced of

Greek banks until at least

after 5 July referendum

results known. Capital

controls imposed on cash

withdrawals and bank

transfers

Greece fails to pay

instalment of euro 1.5bn

due to IMF: now formally

“in arrears” under IMF

protocol. Greek bailout

from “Troika” of�cially

expires

6th – 25th June Negotiations

continue between Greece and its

international creditors

4th 5th 26th 27th 28th 30th

1st

JUNE 2015

Greek referendum:61% of Greek voters vote ‘no’ to international creditors’ bailout proposals

Capital controls and bank closures in Greece extended to at least 8 July

Greek PM, Alexis Tsipras, and new �nance minister, Euclid Tsakalotos, meet with Eurozone counterparts. No Greek proposals tabled on debt repayment/restructuring.Creditors impose deadline of 9 July for these

23:00 Brussels time Greek proposals on debt restructuring delivered to Troika

Sunday 12 July: Eurozone �nance ministers andEurozone leaders meeting

Greek Parliament agrees to new bailout terms

Capital controls and bank closures extended to at least Monday 13 July

10-12 July Eurozone leaders and international creditors to consider Greek proposals

Greek bailout deal agreed after 17 hours of meetings. Greek banks remain closed

German Bundestag approves new bailout terms

1st

JULY 2015

5th 7th 9th

10th 13th 17th 31st6th 8th

12th 15th 20th

Greek banks reopen.ECB short term �nancing of €7.2bn made available. Greece repays IMF arrears and ECB €4.2bn due.

JUL15 | 2967418