Spanish Prime Minister takes hard stance on Greece

Greek voters are scheduled to vote on a referendum next Sunday.

Though the question is whether or not to accept the bailout conditions proposed by Euro zone creditors, many have indicated it has something to do with staying in European monetary Union.

Spanish Prime Minister Mariano Rajoy has taken tough stance towards Greece, declaring that a no vote would mean no Euro.

This is the most blunt warning issued by any European leaders towards Greek voters.

German, France and Italian leaders and economic ministers have already indicated that Sunday's referendum is ultimately a choice between Euro and Drachma.

However Greek Prime Minister Alexis Tsipras remained defiant and is campaigning for No vote. He is likely to resign if voters choose lenders' austerity package by voting yes.

According to Mr. Rajoy, it would be good for Greece if Tsipras loses since it would mean Grexit if he wins.