ATHENS: Greeks overwhelmingly rejected conditions of a rescue package from creditors on Sunday, throwing the future of the country's euro zone membership into further doubt and deepening a standoff with lenders. As the euro slid more than 1 percent against the dollar and European stock and bond markets were poised to take a sharp hit with the resumption of trade on Monday, stunned European leaders called a summit for Tuesday to discuss their next move.
A PEW study on European Attitudes shows social mood is darkening in the Eurozone, but especially in France.
The 78 page study "The New Sick Man of Europe: The European Union" is worth a look in entirety, but let's turn the spotlight on France.
France in Free Fall
A new survey of European public opinion shows that the continent’s financial and employment crises are jeopardizing European integration. In just the last year, overall support for the European Union fell from 60% to 45%, PewResearch’s Global Attitudes Project found (CR in this chart is the Czech Republic):
ATHENS: French President Francois Hollande made a last-ditch appeal on Monday to Greek Prime Minister Alexis Tsipras to return to the negotiating table with creditors, saying only a few hours remained for a deal. Athens shocked creditors by announcing on Saturday a July 5 referendum on the latest cash-for-reform proposal. It now has less than 48 hours to pay back 1.6 billion euros of IMF loans. Ministers from Hollande's Socialist government were early backers of Tsipras' leftist administration after it won January elections.
BRUSSELS — EU chief executive Jean-Claude Juncker urged Greeks on Monday to back a cash-for-reform package rejected by their government, saying a ‘no’ vote in Sunday’s referendum would mean Greece was turning its back on the European Union.
Following a breakdown of talks between Athens and its creditors, Juncker delivered a withering criticism of the Greek government which called the referendum and which advised Greeks to vote against creditor proposals.