Greek Will Survive Without Bailout Agreement After Tuesday -- PM Tsipras

   By Nektaria Stamouli

        ATHENS--Greek Prime Minister Alexis Tsipras urged Greeks Monday to reject the terms of the creditors' proposal in the upcoming July 5 referendum, arguing that this does not mean Greece would leave the euro, but would strengthen the country in the negotiations that will follow.

        "The higher the participation and the number of people voting 'no,' the stronger our position will be," the Greek premier said.

        In an interview on Greek state television, his first since announcing the referendum, Mr. Tsipras said that creditors don't want and will not let Greece leave the euro, adding that the cost of a 'Grexit' would be huge for Europe.

        "The referendum is another negotiating tool," the Greek premier said.

        Mr. Tsipras said Greece will survive without a bailout agreement, which expires Tuesday.

        Greece will "counter threats with calm." The country won't abandon democracy just because the program ends, he said.

        The Greek premier revealed he was given a 48-hour deadline to accept a take-it-or-leave-it offer by the country's international creditors. "I realized creditors did not want compromise" he said.

        The Prime Minister said he informed German Chancellor Angela Merkel and French President Francois Hollande of his decision to call a referendum, before he addressed the Greek people early Saturday.

        "It wasn't me that surprised them; the surprise came next day in the Eurogroup, when they didn't approve the extension [of Greece's bailout]," Mr. Tsipras said.

        The Greek premier said he will accept the outcome of the referendum even if it is a "yes."

        He said Greek banks will reopen a few hours after the referendum and said Greece won't make a payment which is due Tuesday to the International Monetary Fund unless there is a new deal by Monday night.

        Write to Nektaria Stamouli at nektaria.stamouli@wsj.com

        (END) Dow Jones Newswires

        June 29, 2015 17:14 ET (21:14 GMT)

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