Greece debt crisis: Greek voters reject bailout offer

Date: July 06, 2015

Europe Greeks India

Greeks reject demands for more austerity in key referendum

Greeks overwhelmingly rejected conditions of a rescue package from creditors.The final result in the referendum, published by the interior ministry, was 61.3% "No", against 38.7% who voted "yes".Greek Prime Minister Alexis Tsipras said late on Sunday that Greeks had voted for a "Europe of solidarity and democracy".Greek government officials have insisted that rejecting bailout terms would strengthen their hand, and that they could rapidly strike a deal for fresh funding in resumed negotiations.

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Now the future of the country's euro zone membership into further doubt and a deepening a standoff with lenders.But the triumphalism won't last. There is still a sizeable chunk of the Greek nation deeply unhappy with what has happened. And the government will have to unite a divided country.The result delivers a hammer blow to the European Union's grand single currency project. Intended to be permanent and unbreakable when it was created 15 years ago, the euro zone could now be on the point of losing its first member with the risk of further unraveling to come.


Source:- BBC