The German Chancellor Angela Merkel took the stand in the Bundestag and stated that there can be no negotiations for a new bailout program for Greece before Sunday’s referendum.

Mrs. Merkel commented that the Eurogroup received a new proposal by the Greek government; however no talks will take until the referendum and that the other 18 members of the Eurozone have take precautions against the possible impact of a Greek default.

Furthermore, the German leader explained that a compromise solution was required, where the advantages would outweigh the disadvantages.