Greece debt: Crisis meeting over bailout referendum

Greece's creditors are holding a crisis meeting with the Greek finance minister after Athens called a referendum on the terms for a fresh bailout.

Greek PM Alexis Tsipras called the referendum for 5 July, but Greece's current bailout expires on Tuesday.
The country's creditors are expected to decide whether to extend that bailout until after the vote is completed.
As the Greek parliament debates whether to ratify the referendum, queues have formed outside banks in Athens.
Many fear that Greece's central bank might start restricting withdrawals.
It is unclear what would happen if Greece does not get a temporary extension.
Greece has to make a €1.6bn (£1.1bn) payment to the International Monetary Fund on Tuesday, and there are fears Greece's economy could collapse if no new deal is struck.
n a televised address late on Friday, Mr Tsipras described the bailout plan as "humiliation" and condemned "unbearable" austerity measures demanded by creditors.
Some opposition figures on the other hand accused Mr Tsipras of using the vote to push Greece out of the EU.
BBC economics editor Robert Peston said that if the European Central Bank continued its emergency support, some members of its governing council feared it would be breaking all central banking rules.

Analysis: Chris Morris, BBC News, Brussels

The government portrays the referendum as yes or no to austerity. The opposition says it is, in effect, yes or no to Europe. Some of them say the referendum itself is unconstitutional, and are urging the Greek president to reject it.
But Mr Tsipras will argue that he had no other option. He was elected to get a better deal rather than no deal at all. But no better deal was on offer.
As for Greece's creditors I think they will be one part flabbergasted, one part anxious, and one part wondering what on earth they do next.
But several eurozone finance ministers, arriving in Brussels for their fifth meeting on Greece in little more than a week, said there was no question of accepting Mr Tsipras's request to extend his country's current international bailout by a few days, to prevent the Greek economy collapsing before a referendum can be held.
Some of the ministers will now want to focus on Plan B instead - how to ring-fence Greece and protect the rest of the eurozone from any potential economic shocks ahead.

The head of the IMF, Christine Lagarde, said that creditor institutions had "always showed flexibility to adjust to new situations in Greece".
Speaking ahead of Saturday's meeting between creditors and Greek Finance Minister Yanis Varoufakis, she said she would again be recommending a balance between structural reforms and fiscal consolidation.
EU Economic Affairs Commissioner Pierre Moscovici said European finance ministers had to consider "whether there's a possibility or not of an agreement".
"Greece's place is in the eurozone," he said. "When I look at where we are I see differences but they are quite limited and well identified."
But Jeroen Dijsselbloem, who leads the group of European finance ministers, said he was "very negatively surprised" by the Greek government's decision on the referendum.
"This is a sad decision for Greece because it has closed the door on further talks," he said. "We will hear from the Greek [finance] minister today in our meeting and then talk about future consequences."
German Finance Minister Wolfgang Schaeuble said the "negotiations apparently have been declared at an end'' by Mr Tsipras.
                                                 BBC