Tsipras vows to push on with referendum


ATHENS, Greece (AP) — The latest news on Greece's financial woes (all times local):

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5:40 p.m.

Greek Prime Minister Alexis Tsipras has vowed to push on with his plan for a referendum this Sunday on the recent proposals from the country's creditors.

In a televised national address, Tsipras also reaffirmed his support for a "no" vote in the referendum. He insisted that a "no" vote would not put Greece's place in the euro or in the European Union at risk.

Tsipras said Europe must stop acting in an "undemocratic way" and sought to reassure Greeks that their bank deposits were safe.

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5:23 p.m.

Bank of England governor Mark Carney has warned that the outlook for Britain's financial stability has "worsened" because of the crisis in Greece.

Though Carney said at a briefing Wednesday that British banks and businesses only see "minimal" direct exposure to the Greek crisis, he said the British economy's exposure to the eurozone is "considerable."

Carney noted that HSBC was the only British bank actively involved in the Greek market and that Greek banks also have a "tiny" footprint in Britain.

"The risks arising from Greece and the global economy will test market liquidity and could potentially trigger broader adjustments in financial markets," he said.

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5:16 p.m.

A huge banner urging Greek voters to reject a bailout deal by the country's has been unfurled on the front of the Finance Ministry Building that faces the Greek Parliament and overlook's the Greek capital's main Syntagma Square.

The banner reading 'No to blackmail and austerity" in both Greek and English was several meters in size.

Finance Ministry employees took credit for putting up the banner.

Greek Finance Minister Yanis Varoufakis distanced himself from the banner. In a tweet, he claimed it was the initiative of trade unionists "who did not seek the Ministry's permission."

 

   2015 The Associated Press

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