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Taking into account that the economic situation in Greece has dramatically declined, financial support for Greece in the current circumstances would be extremely useful. The Greek government has led the country and its people into a catastrophe, Reirs believes.

He points out that Greece's "no" will serve as a guideline for the Greek government, yet it will not make the negotiation process less difficult, rather it will make financial aid impossible. It is hard to imagine how other countries' taxpayers would be willing to provide financial aid to Greece, at the same time realizing that they might never get such loans back, said Reirs.

The minister also stresses that writing off Greece's external debt is nonnegotiable.

Greece will be facing very tough times in the near future, as the country's economic growth has declined significantly and banks have enforced capital controls, Reirs warns.