Greek voters decisively rejected the bailout terms offered by European Union in a public referendum carried out on Sunday, 5th July to decide the future of country’s economic future.
The referendum had asked the Greek people on whether the government should accept a proposed bailout with the creditors which would provide critical funding given the government implements labour and economic reforms.
61.3% casted their vote for a “NO” whereas 38.7% voted for “YES”.
This result could see an outright rejection of talks with the creditors and Greece’s exit from eurozone.
The ruling Syriza party had campaigned for a “NO”. The “NO” supporters came out on street and celebrated their victory.
Greek Prime Minister Alexis Tsipras said that Greeks had voted for a “Europe of solidarity and democracy”.
He further commented, “As of tomorrow, Greece will go back to the negotiating table and our primary priority is to reinstate the financial stability of the country.”
The leaders of Germany and France were quick to call for an EU Summit on Tuesday to discuss Greek financial crisis and the country’s future.
The news has surely affected the world economy as the India Sensex opens 200 points down.