Trauma lingers in Greece, 10 years after austerity referendum
The next day, June 28, after the Eurogroup – which brings together the finance ministers of the eurozone countries – refused to extend Greece's loan agreement and capital flight accelerated, the Greek prime minister announced capital controls and the temporary closure of Greek banks until after the vote. Greeks could withdraw only €60 per day, and businesses could no longer pay their employees or suppliers. Greece found itself at an impasse. "While standing in line at the ATM, we laughed at the absurdity of it all. But deep down, we were afraid to hear about another disaster and that our country would no longer be part of the eurozone," Grapsa said.
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Trauma lingers in Greece, 10 years after austerity referendum
Katerina Grapsa, a shopkeeper in central Athens, vividly remembers "that summer of 2015, the summer of all dangers," when she almost lost everything, like so many other Greeks. On June 27, the woman in her sixties woke up to learn that Alexis Tsipras, the left-wing prime minister from the Syriza party who had been elected just in January, had announced at 1:20 am that a referendum would be held on July 5. It was to decide whether to reject the third austerity plan imposed by the "troika" (the International Monetary Fund, the European Central Bank and the European Commission) since the beginning of the debt crisis in 2010. The next day, June 28, after the Eurogroup – which brings together the finance ministers of the eurozone countries – refused to extend Greece's loan agreement and capital flight accelerated, the Greek prime minister announced capital controls and the temporary closure of Greek banks until after the vote. Greeks could withdraw only €60 per day, and businesses could no longer pay their employees or suppliers. Greece found itself at an impasse. "While standing in line at the ATM, we laughed at the absurdity of it all. But deep down, we were afraid to hear about another disaster and that our country would no longer be part of the eurozone," Grapsa said.
