Former Greek prime minister says the bailout vote will be about 'the fate of our country in staying in the euro'

On July 5, the citizens of Greece will go to the polls to vote on whether to accept the new terms of a bailout from Greece's creditors.

But while this vote is ostensibly about whether to accept a package of reforms, Greece's former prime minister says this vote is really about Greece's future in the euro zone.

During a debate at parliament on Saturday night, Antonis Samaras - formerly the prime minister of Greece - said, "In the referendum, it's not really the deal that is being decided; it's the fate of our country in staying in the euro."

Samaras, a conservative, was voted out of power in late January and defeated by current prime minister Alexis Tsipras.

Tsipras is a member of the left-wing Syriza party and ran on a platform of rejecting austerity measures imposed on Greece under the terms of bailouts from creditors including the ECB and the IMF.

Tsipras announced late Friday night that he would hold a referendum to vote on the latest proposed reforms. On Saturday, talks between Greece and its European creditors broke down as Greek finance minister Yanis Varoufakis left a meeting of eurozone finance ministers early.

Given the state of things between Greece and its European creditors, it looks increasingly likely that Greece will miss its payment due to the IMF on Tuesday. The referendum is set for July 5 - next Sunday - and Greece had been seeking an extension of its current bailout program until then.

Additional reporting by Reuters.