Greeks headed to the polls on Sunday to cast a "yes" or "no" vote in a crucial referendum over a bailout agreement with the country's international creditors.
Follow our live updates on the vote:
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Oldest Newest Share + Today 1:58 AM EDTGreek Finance Minister ResignsGreek finance minister Yanis Varoufakis announced his resignation on Monday. In a blog post, he wrote:
Share this:TweetSharetumblr Share + 07/05/2015 9:17 PM EDTFinal Results Are InSoon after the announcement of the referendum results, I was made aware of a certain preference by some Eurogroup participants, and assorted ‘partners’, for my… ‘absence’ from its meetings; an idea that the Prime Minister judged to be potentially helpful to him in reaching an agreement. For this reason I am leaving the Ministry of Finance today.
The "No" camp won Greece's referendum with 61.31 percent of the vote, the Associated Press reports. The "Yes" side got 38.69 percent.
More from the AP:
Share this:TweetSharetumblr Share + 07/05/2015 7:10 PM EDTDijsselbloem: Regrettable OutcomeA total of 6.16 million Greeks voted in Sunday's referendum, or 62.5 percent of eligible voters. The poll needed a minimum 40 percent turnout to be valid.
The president of the eurozone finance ministers' group said on Sunday he regretted the outcome of Greece's referendum.
The Associated Press reports:
Share this:TweetSharetumblr Share + 07/05/2015 7:06 PM EDTHuffPost Splashes From Around The WorldThe president of the eurozone finance ministers' group, Jeroen Dijsselbloem, calls the outcome of Sunday's referendum "very regrettable for the future of Greece."
The Dutch finance minister has over the past five months of negotiations resisted Greece's attempts to get easier terms for its bailout program. He says that "for the recovery of the Greek economy, difficult measures and reforms are inevitable. We will now wait for the initiatives of the Greek authorities."
He says the 19 finance ministers will discuss the outcome of the Greek referendum on Tuesday, the same day a summit of the eurozone leaders will be held.
Greece's Editor-at-Large Pavlos Tsimas weighs in on the implications of today's result:
The people of Greece have shown their confidence in this government. The question now is how the government will interpret this and how it will use its victory.
Two different negations lie within the referendum's "no." A "no-no" (no to the proposed bailout deal and no to any deal that Europe might offer Greece today and consequently no to the euro). And a "no-yes" (no to an austerity deal, but yes to the euro, through a fairer deal). Everything points to the fact that this second interpretation of "no" has probably prevailed. Alexis Tsipras's first reaction in his festive speech seems to also adopt this very interpretation. It's a first sign.
Read the full story here.
Share this:TweetSharetumblr Share + 07/05/2015 6:27 PM EDTPHOTOS: Celebrations In Athens
People celebrate in front of the Greek parliament as the people of Greece reject the debt bailout by creditors on July 6, 2015 in Athens, Greece. (Christopher Furlong/Getty Images)
A woman holds a placard as people celebrate in front of the parliament on July 5, 2015 in Athens (IAKOVOS HATZISTAVROU/AFP/Getty Images)
People celebrate in Athens on July 5, 2015. (LOUISA GOULIAMAKI/AFP/Getty Images)
Ioannis Karamagalis argues in a piece for HuffPost Greece that Sunday's referendum have left Greek politics and society deeply divided.
The referendum, before being conducted, unfortunately released the darkest aspects and features of Greek political socialization. It reinstated divisive reasoning in the public sphere, and divided society into two camps with no diffusion and without any room for common ground.
Read the full blog here.
Share this:TweetSharetumblr Share + 07/05/2015 6:03 PM EDTLines At ATMsQueues forming at cash machines here in Athens, fears banks could run dry by tomorrow #GrReferendum pic.twitter.com/CvobPlu2TB
— Dan Whitehead (@danwnews) July 5, 2015
Greek news outlet Times of Change reports that a skirmish between police and about 100 protesters broke out around 11.30 pm local time. According to the website, the protesters pelted police with rocks and Molotov cocktails.
Share this:TweetSharetumblr Share + 07/05/2015 5:55 PM EDTSchulz Calls For Humanitarian AidThe head of the European Parliament said on Sunday night that European leaders should discuss a humanitarian aid program for Greece.
The Associated Press reports:
Share this:TweetSharetumblr Share + 07/05/2015 5:24 PM EDTEU Council President To Hold Referendum TuesdaySchulz says in a statement that Athens should make "meaningful and constructive proposals" in the coming hours to get the talks with the other 18 eurozone nations going again. He says: "If not we are entering a very difficult and even dramatic time."
Schulz says ordinary citizens, pensioners, sick people or children in kindergarten should not pay a price for the dramatic situation the country is in, which he blamed the Greek government for. He says the country needs a humanitarian program immediately.
European Council President Jean-Claude Juncker has announced that he will hold a summit on Tuesday to address Greece.
Share this:TweetSharetumblr Share + 07/05/2015 5:15 PM EDTMemes Of The ReferendumBREAKING: Germany, France call for eurozone summit to discuss Greek financial crisis. (Corrects that Germany, France called for EU summit.)
— The Associated Press (@AP) July 5, 2015
Huffington Post Greece rounds up some of the best memes and cartoons from the Greek vote. Read it here (in Greek).
#Greece is Grease via @EuroStability pic.twitter.com/N2MHSV7YIY
— Velina Tchakarova (@vtchakarova) June 10, 2015
Greek Prime Minister Alexis Tsipras took to Twitter to weigh in on the result of Sunday's referendum:
The Greek people made a historic and brave choice. Their response will alter the existing dialogue in Europe. #Greece #Greferendum
— Alexis Tsipras (@tsipras_eu) July 5, 2015
Greece's 'No' voters took to Twitter on Sunday to as the results indicate their side has won a decisive victory. Some are asking what the results would have been if fear-inducing elements of the crisis such as bank closures didn't exist:
"With the banks closed and the TV on, still people did not get scared...the 'no' of our lives," @AGiamali wrote.
Με κλειστές τις τράπεζες και ανοιχτά τα κανάλια και πάλι ο κόσμος δεν φοβήθηκε... Τα #OXI της ζωής μας... #Greferendum
— Αναστασία Γιάμαλη (@AGiamali) July 5, 2015
"If the banks WEREN'T closed, what percent would have voted no?" @blacktom1961 asked.
Αν οι τράπεζες ΔΕΝ ήταν κλειστές, τι ποσοστό θα έπαιρνε το #OXI;
— Thomas Mavrofides (@blacktom1961) July 5, 2015
Greek Prime Minister Alexis Tsipras addressed the nation on Sunday, as referendum results indicated that a "No" vote would win by a large margin. The vote is seen as a victory for Tsipras, who campaigned hard over the last week for citizens to reject the bailout proposal put forward by Greece's creditors.
Tsipras said that Greece will negotiate tomorrow with the goal of restoring the nation's banking system, reports Reuters. He also reaffirmed his stance that the referendum was not about exiting the eurozone but about rejecting the harsh terms of austerity.
"The mandate you have given me is not a mandate against Europe but a mandate to find a sustainable solution," Tsipras said.
Share this:TweetSharetumblr Share + 07/05/2015 4:34 PM EDTParty Tonight, Hangover Tomorrow?Political scientist at Yale University Stathis Kalyvas had this to say about the celebrations going on in Athens right now:
Big party in Syntagma Square now. Huge hangover to follow
— Stathis Kalyvas (@SKalyvas) July 5, 2015
Share this:TweetSharetumblr Share + 07/05/2015 4:28 PM EDTECB May Be Willing To Keep Funding In PlaceBREAKING: Leaders of Germany, France call for an EU summit on Tuesday to discuss Greek financial crisis.
— The Associated Press (@AP) July 5, 2015
The European Central Bank may be willing to keep emergency funding for Greek banks in place, Reuters reports. If confirmed, the decision would give Greek financial institutions a crucial lifeline in the coming days.
European Central Bank policy setters are likely to maintain emergency funding for Greek banks at its current restricted level, people familiar with the matter said on Sunday, following Greece's rejection in a referendum of bailout conditions.
Such a move would give Greek banks little time before they use up all of the roughly 89 billion euros of funding available and ensure that they remain closed for at least the coming days.
But it would avoid the drastic option of withdrawing existing support, a measure that would trigger their immediate collapse.
Read more here.
Share this:TweetSharetumblr Share + 07/05/2015 4:23 PM EDTKrugman: A Victory For EuropeEconomist Paul Krugman argues in the New York Times that Sunday's referendum does not only present a victory for Greek Prime Minister Tsipras, but for Europe as well.
I know that’s not how most people see it. But think of it this way: we have just witnessed Greece stand up to a truly vile campaign of bullying and intimidation, an attempt to scare the Greek public, not just into accepting creditor demands, but into getting rid of their government. It was a shameful moment in modern European history, and would have set a truly ugly precedent if it had succeeded.
Read Krugman's full reaction here.
Share this:TweetSharetumblr Share + 07/05/2015 4:20 PM EDTGraph: Turnout And Estimated ResultsBBC News provides this helpful visualization of the vote:
Share this:TweetSharetumblr Share + 07/05/2015 4:18 PM EDTMain Opposition Leader Samaras ResignsWith 60% of #Greferendum votes in, results show Greek voters rejecting terms of bailout http://t.co/LR8d14OaaB pic.twitter.com/I2od60vtuF
— BBC News Graphics (@BBCNewsGraphics) July 5, 2015
The leader of Greece's main opposition party Antonis Samaras announced that he is stepping down, as results continue to pour in indicating a "No" victory in the country's referendum. Samaras was formerly prime minister of Greece until he was ousted by Alexis Tsipras in January's elections.
Despite the loss he remained as leader of the New Democracy party. New Democracy initially opposed the referendum, and campaigned for a "Yes" vote.
Share this:TweetSharetumblr Share + 07/05/2015 4:07 PM EDTA Breakdown Of How Greeks VotedHere's a breakdown of how Greeks voted, by occupation and age, from Metron Analysis of behalf of the television station Ant1.
The self-employed and farmers tended to vote "yes," while the unemployed and students tended to vote "no." Interestingly, since the government fought so hard not to cut their income, pensioners were divided, as were housewives.
By Occupation:
Who voted yes:
Self-employed 55%
Farmers 41%
Pensioners 60%
Housewives 46%
Unemployed 32%
Students 25%
Who voted no:
Unemployed 64%
Students 75%
Housewives 46%
Pensioners 35%
By Age:
Who Voted Yes:
From 18 to 29 years: 26%
From 30-44 years: 45%
From 45-59 years: 39%
From 60 years and older: 50%
Who Voted No:
From 18 to 29 years: 69%
From 30-44 years: 54%
From 45-59 years: 59%
From 60 years and older: 37%
More from Reuters on Sigmar Gabriel's comments:
German Economy Minister Sigmar Gabriel told the Tagesspiegel daily that it was hard to imagine talks on a new bailout program with Greece after the country clearly rejected bailout terms in a referendum.
"With the rejection of the rules of the euro zone ... negotiations about a program worth billions are barely conceivable," said Gabriel, leader of the Social Democrats (SPD) who share power with Chancellor Angela Merkel's conservatives.
"Tsipras and his government are leading the Greek people on a path of bitter abandonment and hopelessness," he said, adding Tsipras had "torn down the last bridges on which Greece and Europe could have moved towards a compromise".
Read the full story here.
Share this:TweetSharetumblr Share + 07/05/2015 3:51 PM EDTGreeks Can't Tap In Safe Deposit BoxesReuters reports:
Share this:TweetSharetumblr Share + 07/05/2015 3:41 PM EDTGerman Vice Chancellor Says Greece Has Torn Down Last BridgeGreeks cannot withdraw cash left in safe deposit boxes at Greek banks as long as capital restrictions remain in place, a deputy finance minister told Greek television on Sunday.
Greece's government shut banks and imposed capital controls a week ago to prevent the country's banks from collapsing under the weight of mass withdrawals.
Deputy Finance Minister Nadia Valavani told Alpha TV that, as part of those measures, the government and banks had agreed at the time that people would also not be allowed to withdraw cash from safe deposit boxes.
Share this:TweetSharetumblr Share + 07/05/2015 3:38 PM EDTVaroufakis: 'No' Is A Yes To Democratic EuropeBREAKING: German Vice Chancellor Gabriel - Tsipras has torn down last bridge of compromise. #GreeceReferendum #GreekCrisis
— Reuters Top News (@Reuters) July 5, 2015
Greek Finance Minister Yanis Varoufakis spoke out in the wake of Sunday's vote:
BREAKING: Greek Finance Minister says today's 'No' is a big 'Yes' to democratic Europe. #GreeceReferendum
— Reuters Live (@ReutersLive) July 5, 2015
Share this:TweetSharetumblr Share + 07/05/2015 3:31 PM EDTGreece's Labor Minister Says 'No' Gives 'Bargaining Chip'BREAKING: Greek Finance Minister says - As of tomorrow, with this brave 'No' vote, we will call on our partners to find common ground.
— Reuters Live (@ReutersLive) July 5, 2015
"I think there is not a Greek that is not proud. Because regardless of what they voted, Greeks showed that, above all, this country respects democracy. The government now has a strong mandate, a strong bargaining chip, to bring an agreement that will open up other roads, "Labor Minister P. Skourletis said as he entered the prime minister's mansion.
Share this:TweetSharetumblr Share + 07/05/2015 3:13 PM EDTEuro FallsShare this:TweetSharetumblr Share + 07/05/2015 3:07 PM EDTPhotos: The Scene In Syntagma Square Share this:TweetSharetumblr Share + 07/05/2015 3:04 PM EDTSamaras Urged To ResignBREAKING: Euro falls as Greece votes 'No' to bailout package. #GreeceReferendum #GreekCrisis
— Reuters Top News (@Reuters) July 5, 2015
Opposition leader and former Prime Minister Samaras is being urged to resign
Conservative party's youth wing (ONNED) Sakis #Ioannidis calls on New Democracy chief #Samaras to resign #Greece
— Kathimerini English (@ekathimerini) July 5, 2015
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