The government's official position is that a "No" vote could strengthen its hand against its creditors by displaying that the Greek people won't accept the deal on the table.

That sounds a lot like wishful thinking — and Italian Prime Minister Matteo Renzi isn't buying it.

This afternoon, he tweeted: "The point is: greek referendum won’t be a derby EU Commission vs Tsipras, but euro vs dracma. This is the choice."

"It is democracy, it is the right of the Greek people to decide what they want for their future," French President Francois Hollande said in Paris." What is at stake is whether or not Greeks want to stay in the eurozone (or) take the risk of leaving."