The Greek Referendum will involve a choice between the two options.
If they vote “yes”, they will get the second.
The Referendum campaign itself will be very difficult to manage. There will be a huge level of inter action between opinion polls and bond markets.
It is very hard to understand the thought processes of the Greek Prime Minister.
Did George Papandreou tell his colleagues at the recent EU Summit, that agreed a deal with him on Greek debts, that the deal was conditional on a referendum?
If he did not do so, then he is acted in such bad faith that it is hard to see how colleagues could do business with him again. If that is the case, Greece should have a General Election, not a referendum.