Will Greece hold a referendum?

Negotiations between the Greek govt and its creditors are like water torture. An earlier proposal was accepted in one day by creditors.


What were the terms?


In its letter requesting an extension to the bailout last month, Greece’s government had committed to streamline sales tax rates, with a view to limiting exemptions, implement a comprehensive review of government spending in every sector, and auction digital frequencies used by TV channels.
The letter, which was sent to euro area finance ministers on Feb. 23, and got their approval the day after, also included a commitment to pension reform, the elimination of loopholes and incentives that give rise to an excessive rate of early retirements, and the removal of barriers to competition in its goods and services markets.


So, why the crisis again?


Greeks reacted negatively and their govt now wants to renegotiate their proposals. The talk of a referendum is to shuffle responsibility onto the voters.


Payments begin on March 13.