By late June 2015 negotiations on a deal had collapsed, and Prime Minister Alexis Tsipras called a referendum for 5 July on the revised proposals from the IMF and the EU, which he said that his government would campaign against.
Questioned on whether the referendum would be a euro-drachma dilemma, Greece's finance minister, Yanis Varoufakis, said that European Treaties make provisions for an exit from the EU but do not make any provisions for an exit from the Eurozone.