Greek PM: 'Say No To Those Who Terrorise You'

The Greek PM has told voters to say no "to those who terrorise you" as he addressed thousands of demonstrators ahead of a crucial bailout referendum.

Rival rallies were held in Athens ahead of Sunday’s vote, which asks Greeks whether they want to accept the international creditors' proposals for further austerity in exchange for more loans.

Alexis Tsipras told a "no" rally that the vote was "a celebration of democracy".

"On Sunday, we are not just deciding that we are staying in Europe, but that we are deciding to live with dignity in Europe," he said.

He urged voters to "say a proud no to ultimatums and those who terrorise you".

With tensions running high, police fired stun grenades and briefly scuffled with a few dozen black-clad people carrying red flags on the capital's central Syntagma Square, where the "no" rally was held.

The violence appeared to be isolated and the demonstration of some 25,000 people was peaceful.

But the twin public meetings, staged just 800 metres apart, raised fears of potential trouble and were held amid tight security.

At the "yes" camp, thousands rallied in front of the old Olympic Stadium to Beethoven's Ode To Joy, the anthem of the European Union.

The crowd appeared to be smaller than at Syntagma.

Friday was the last day of campaigning ahead of the referendum, which could determine the country's future in the eurozone.

The latest polls suggest the two sides - the "yes" camp in favour of accepting the creditors' terms and the "no" camp opposed to more austerity - are neck and neck.

The terms have been rejected by the Greek government - elected on an anti-austerity platform - over protracted negotiations with European and international creditors.

Leaders of eurozone nations have said a win for "no" would be a vote against Greece remaining in the eurozone while Mr Tsipras believes it would actually strengthen his negotiating hand.

Sky sources say a "yes" win would be expected to result in the resignation of the Syriza-led government and the formation of a national unity government.

It would be likely to make a quick rescue deal to prevent the prospect of a banking system collapse and exit from the single currency.

The head of the country's banking association said that Greek banks have a "liquidity cushion" of €1bn - but funds beyond Monday depend on the European Central Bank.

"Liquidity is assured until Monday, thereafter it will depend on the ECB decision," Louka Katseli said.

The figures at the heart of the country's financial crisis were earlier laid bare by the International Monetary Fund.

The organisation said Greece faces a huge financial hole regardless of the outcome of the referendum and would need some €50bn (£36bn) as well as a massive debt writedown.

In a rare move, 16 former armed forces leaders of Greece have signed a joint declaration calling on the Greek people to show "calm and national unity" ahead of the vote.

The letter said "Greece is at a highly critical moment in its history that will require difficult and inevitably painful decisions

"All Greeks, united and above party political lines and divisions, must help with all means available to address this situation with calm and national unity."

Greek Finance Minister Yanis Varoufakis has denied a report in the weekend’s Financial Times saying contingency plans were being made for a possible bail-in on bank deposits.

Mr Varoufakis said the report was a "malicious rumour". The head of the country’s Bank Association also dismissed the report as "completely baseless".