The people of Greece have voted overwhelmingly in favour of rejecting the terms of the bailout and possibly risking financial ruin. 61% of Greeks so far voted in favour of ‘No’.
Greek Prime Minister Alexis Tsipras supported the outcome, saying the “no” result shows that “democracy won’t be blackmailed.”
Petros Doukas, the former deputy treasury secretary of Greece, says the Greek PM will have his work cut out for him.
“We can not import raw materials to build our exports sector, and tourism has problems with cancellations.”
Critics say a “No” vote would likely mean more uncertainty and added financial hardship for Greece.
Greek Finance Minister Yanis Varoufakis says he hopes Greeks reject today’s referendum.
“The only way to put together a viable deal that is mutually beneficial for us and the European Union is with a no.”