Economics

Tsipras Calls Referendum on Greek Debt Deal for July 5

Alexis Tsipras, Greece's prime minister, departs a EU summit meeting in Brussels, Belgium, on Friday, June 26, 2015.

Photographer: Jasper Juinen/Bloomberg
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Greek Prime Minister Alexis Tsipras called a referendum on the terms offered by creditors for the latest aid package, saying they’re seeking to humiliate the Greek people who must provide a democratic response.

The vote will take place on July 5, Tsipras said in a televised address in the early hours of Saturday. A Greek government official said the country’s banks will open as normal on Monday and no capital controls are planned, asking not to be identified in line with policy.