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What Will Greeks Vote on? The Referendum Question

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Greek lawmakers are set to decide at a midnight vote Saturday whether to approve a proposal by Prime Minister Alexis Tsipras’s government to hold a referendum on July 5, which could decide the country’s future in the euro area.

If parliament gives its nod, Greek voters will be asked to rule on two complex draft documents that detail a proposal by the country’s creditors to unlock aid of as much as 15.5 billion euros for Greece in return for sales-tax increases and pension reforms. An agreement on the package has remained elusive after five months of contentious negotiations that have left the country at the brink of default when the bailout expires on Tuesday.