Greeks reject bailout terms in referendum

Rappler.com

Supporters of the 'No' campaign react after the results of the referendum in Athens, Greece, 05 July 2015. Greek voters in the referendum were asked whether the country should accept reform proposals made by its creditors. EPA/ORESTIS PANAGIOTOU

In a referendum conducted Sunday, July 5, Greek voters rejected a bailout package proposed by the country’s international creditors, which requires the struggling Mediterranean country to adopt new austerity measures in return for emergency funds. Over 61 % of Greeks voted against the deal while less than 39 % voted in favor. The result of the referendum is considered a major victory for Greek Prime Minister Alexis Tspiras, who had campaigned heavily against the deal put forward by the European Central Bank, the International Monetary Fund and the European Commission. But it also raises uncertainty about the country’s financial future and its place in the eurozone. Greek is indebted to many European countries, and particularly to Germany and France.

Read about the Greek vote on the bailout deal on the Huffingtonpost.

Read The Guardian’s live blog which includes a table showing official exposure to Greece by country and type.

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