Greek Prime Minister Alexis Tsipras, right, leaves the Maximos Mansion after he announced the referendum in a televised address in central Athens, early Saturday, June 27, 2015. (AP Photo/Petros Karadjias)
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Greek Prime Minister Alexis Tsipras called a referendum on austerity demands from foreign creditors on Saturday, rejecting an "ultimatum" from lenders and putting a deal that could determine Greece's future in Europe to a risky popular vote.Without the bailout funds, Athens is due to default on 1.6 billion euros in repayments to the International Monetary Fund on Tuesday, pushing Greece closer to being forced out of the euro, causing chaos for its economy and financial markets.Greece's parliament convenes on Saturday at noon local time (0900 GMT) to approve the referendum plan, just before euro zone finance ministers are due to meet in Brussels to discuss an aid offer from European and IMF to Greece.It said Athens could have 15.5 billion euros in EU and IMF funding in four installments to see it through to the end of November, including 1.8 billion euros by Tuesday as soon as the Greek parliament approved the plan.That has sparked protests in Greece, where one in four people are out of work.
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