Michalos: Optimistic for ‘Yes’ Greek Vote

Athens Chamber of Commerce and Industry President Constantine Michalos is cautiously optimistic there will be a strong “yes” vote on Greece’s referendum Sunday.

However, even if voters accept the euro zone’s bailout terms, banks in the cash-strapped country likely won’t open until at least July 20, he predicted.

“It’s absolutely impossible [to reopen] unless there is a deal. A deal that passes all the parliaments of the euro zone, a deal that is struck here in Greece, signed and sealed, and then the ECB has to send funds,” Michalos said in an interview with CNBC’s “Power Lunch” on Thursday.