The Greek crisis is approaching a denouement. This marks a turning point for the working class of Greece and the whole of Europe. In advance of tomorrow’s referendum, we publish here a statement by the International Marxist Tendency on the latest developments between the Troika, on the one side, and the SYRIZA-led government and the Greek masses on the other.

As the referendum in Greece approaches, political polarisation is reaching unprecedented levels. The sham of bourgeois democracy has been revealed, as the Troika demand Tsipras’ removal. The conclusion is unavoidable: there is no way to end austerity within the limits of capitalism.

As the Greek bailout ends and the repayment deadline is passed, bank and capital controls are now in action in Greece. Tsipras has called for people to vote NO – “OXI” – to the Troika’s proposals, as the creditors refuse to move. Tens of thousands have turned out in Athens to reject the proposals. The scene is set for an almighty confrontation between Capital and the Greek masses.