a "No" vote might persuade the ECB to demand additional collateral from banks to cover the risk of losses on the 120bn euros in emergency lending it and the Bank of Greece have already provided. This would be very painful for the banks. Right now they have unencumbered assets sufficient to borrow an additional 17bn to 20bn euros from the Bank of Greece, if the ELA ceiling were lifted. But if the ECB decided these assets - such as loans to Greek companies - are intrinsically less valuable than it currently thinks, and imposed a bigger so-called haircut on these loans, that 17bn to 20bn of possible additional credit could shrink to zero or a negative number.
A referendum that will sink or rescue the Greek economy - BBC News
A report released Thursday by the IMF said the European Union may need to take losses of 53 billion euros on money it has lent to Greece. At loggerheads with its international creditors, Greece jumped at the opportunity, at the risk of relying on the recommendations of an institution it loathes. Embracing key proposals in the report, Greek Prime Minister Alexis Tsipras demanded Friday that creditors forgive a third of the country's debt and allow delayed repayments for the rest. Much is at stake for Greece's EU partners. They are the main contributors to Greece's successive bailouts, and hold 211 billion euros out of a total of about 280 billion euros that Greece owes. Of all Greece's creditors, the Europeans are the most heavily exposed to losses.
IMF gives Greece something to mull over - Business Insider
In 2012, the IMF obtained a promise from the Europeans to take Greece's debt levels substantially below the level of 110 percent of GDP by 2022. But this commitment was never kept, and Greek debt these days is close to 180 percent of economic output.
IMF gives Greece something to mull over - Business Insider
€50 billion The amount of revenue Greece agreed with its creditors in 2011 it would generate as it privatized state assets. €3.2 billion The amount of revenue Greece generated through the privatization of assets through 2015.