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Greece has overwhelmingly rejected Europe's latest bailout package, plunging the country's future in the Eurozone into jeopardy.
With most of the votes counted in a referendum that will shape the future of the continent, the 'No' campaign has a staggering 61 per cent of the vote - 22 points ahead.
German Chancellor Angela Merkel and French President Francois Hollande called for an EU crisis summit to find a 'solution' for Greece, with leaders set to meet in Brussels on Tuesday.
Thousands of anti-austerity voters took to the streets in celebration as the leader of the pro-EU 'Yes' campaign resigned, with an official announcement of the final result imminent.
But German politicians warned of 'disaster' as they accused Greek Prime Minister Alexis Tsipras of 'tearing down bridges' between Greece and Europe.
Greece has overwhelmingly rejected Europe's latest bailout package in a landmark referendum
Thousands gathered in front of the Greek parliament in Athens as Greece rejected a European bailout package
Gathering: As night fell over the Greek parliament, thousands gathered outside to celebrate the result
With an official announcement of the final result imminent, thousands of anti-austerity voters took to the streets outside parliament in celebration
No suit: Greek finance minister Yanis Varoufakis said the 'No' vote was a yes vote for democracy in Europe
Early results in the referendum were broadcast on big screens in Athens - including on this museum
Supporters of the 'No' campaign shouted with joy as it became clear that they were on course for victory
Victor: Greek Prime Minister Alexis Tsipras said the vote did not give him a 'mandate against Europe'
If European leaders refuse to back down on their proposals for Greece's finances, it would lead to the ECB ending its support for the debt-stricken nation and potentially force it out of the Eurozone.
Tsipras is understood to have already telephoned European leaders, starting with Hollande.
Speaking on Greek national television he said: 'I understand that voters have not given me a mandate against Europe, but a mandate for a sustainable solution.
‘Many can ignore the will of the government; no one can ignore the will of the nation.’
Greece’s finance minister Yanis Varoufakis, wearing a T-shirt as he spoke to reporters, said a ‘No’ vote was a vote in favour of democracy and allowed Athens to call on its partners to find a fair deal.
'As of tomorrow, with this brave ‘No’ the Greek people handed us... we will extend a helping hand towards our lenders. We will call on each one of them to find common ground,' he said.
'As of tomorrow, Europe, whose heart is beating in Greece tonight, is starting to heal its wounds, our wounds. Today’s No is a big Yes to democratic Europe.'
He earlier accused a Sky News reporter of spoiling 'celebrations of democracy' by asking 'impertinent' questions about the country's banks running out of money.
Shortly after Varoufakis' words, the head of the Yes campaign former prime minister Antonis Samaras resigned as leader of the opposition.
Meanwhile Nikos Pappos, Tsipras' main aide, said a deal with creditors would be reached by July 20 - the day Greece is due to repay 3.5billion euros to the European Central Bank (ECB).
German politicians branded the result a 'disaster', with the country's economy minister Sigmar Gabriel Sigmar accusing Tsipras of 'tearing down the last bridges on which Greece and Europe could have moved towards a compromise'.
He added: 'Tsipras and his government are leading the Greek people on a path of bitter abandonment and hopelessness.'
Demands: A government spokesman said it had 'a clear mandate' for less stringent bailout conditions
Party time: Greeks - young and old - met to celebrate the outcome of the referendum, which could see the country leave the Eurozone
Dancing in the street: Jubilant Greeks held hands as they celebrated the result earlier this evening
A fountain in the centre of Athens was lit up red - the colour of governing party Syriza - following the vote
Greece voted against Europe's latest bailout package, plunging their future in the Eurozone into further doubt
Victory: A group of anti-austerity voters hold flags aloft in front of the Zappeion in Athens
Anti-austerity voters took to the streets in celebration, singing as they waved Greek flags as the result became clear
Celebrations: Anti-austerity voters cheered as it appeared that the 'No' campaign was taking a lead
Greek Prime Minister Alexis Tsipras was seen hugging friends after casting his vote earlier today
Counting: Six opinion polls released moments after voting ended showed a lead for the 'No' campaign
Meanwhile, senior German conservative Michael Fuchs said he 'regretted' the result, adding: 'Tsipras has caused a disaster and must see how to pick up the pieces. There is no chance that a solution will be achieved within 48 hours.'
David Cameron is expected to hold crisis talks with the Governor of the Bank of England Mark Carney tomorrow to discuss the result's impact on the British economy. He is also likely to attend further emergency meetings with the EU on Tuesday.
Nigel Farage, the leader of Ukip, said: ‘If these poll figures are correct, I commend the Greek people for calling the EU’s bluff.
‘The EU project is now dying. It’s fantastic to see the courage of the Greek people in the face of political and economic bullying from Brussels.’
Meanwhile Belgium was the first of the Eurozone nations to react to the result. The country's finance minister Johan Van Overtveldt said talks to find a deal could resume 'within hours'.
Italy's foreign minister Paolo Gentiloni tweeted: 'Now it is right to start trying for an agreement again. But there is no escape from the Greek labyrinth with a weak Europe that isn't growing.'
The polls closed amid increasing fears the central Bank of Greece is on the brink of collapse.
Greek officials are set to ask the ECB for emergency cash after tonight's referendum result in a bid to stave off financial ruin, it has been reported.
Plans for a last-minute meeting between the country's finance minister, ECB and the Bank of Greece were announced this afternoon, just two hours before voting ended.
Nearly 10 million people are thought have turned out to vote on whether Greece should accept Europe's latest bailout package and introduce tougher austerity measures. Interior Minister Nikos Voutsis said more than half of the Greek electorate voted.
From as early as 7am, residents could be seen queuing outside polling stations ready to mark their 74-word ballot paper with a cross in the 'Yes' or 'No' box.
Greek army forces and riot police ramped up security this morning as it emerged a secret plan had been drawn up to ensure troops can cope if there is widespread public disorder.
Yesterday, polls showed the campaigns neck-and-neck with the 'No' vote just 0.5 percentage points ahead in one. Many people remained undecided.
Six opinion polls released moments after voting ended predicted a victory for the 'No' campaign.
The snap referendum was called by Prime Minister Alexis Tsipras on June 26, days before the country became the first Western democracy to fail to pay its debts to the International Monetary Fund (IMF).
It was due to pay £1.1billion by 11pm last Tuesday after negotiations between the government and creditors, who were asking for reforms in exchange for extending the country's bailout deal, collapsed.
In a short statement, the European Commission said it 'respected' the result.
'EU medicine is not the cure': Greek Ceasar Mokbel
Defiant Greeks dared their EU creditors to pull the plug on further financial assistance as they voted a resounding ‘no’ to the Brussels conditions to keep the bankrupt country afloat.
Hard-working families in Kypseli, a middle-class district in central Athens, told MailOnline how their country had ‘done everything their creditors had asked’ but now they had had enough.
Meanwhile riot police took up positions on street corners across the capital amid growing uncertainty at what the next episode of Greece’s financial crisis will be.
Ceasar Mokbel, who holds down two jobs to make ends meet, expressed the views of many when he described how the financial medicine imposed by Brussels had not worked.
Mr Mokbel, 30, told MailOnline: ‘Whatever Europe has asked of us for the past five years we have done. But it didn’t make our situation any better.
‘I work two jobs – working 16 hours a day - to make ends meet. I work in a pharmaceutical company during the day and I make deliveries at night.
‘I have to, to support my family, my parents. I cannot get married because there is no money. All my friends are in a similar situation, working two jobs to make ends meet.
‘The people who voted ‘yes’ [to accept the conditions required to continue EU support] have done so because they have a couple of thousand euros in the bank and they afraid of losing it.
‘But accepting more of this medicine is not going to cure the Greek economy.’
Unemployed French teacher Chryssa Zouli, 32, said: ‘I voted no. I voted with my heart because whatever the outcome will be it will be bad for Greece.
‘I think the EU will back down. All of these threats to kick us out of the EU have been a tactic to make us do what they want.’
Air-conditioning engineer Thomas Kyriakis said: ‘Life has been really tough. There’s no money and the price of everything has gone up – household bills and food at the supermarket.
‘I have voted no. Whatever the outcome it would have been bad for Greece. But ‘no’ was the best of the bad options.
‘The Germans have said that if we vote no they will give us no more money but I think they are bluffing.’
Unemployed interior designer, mother-of-one, Anthi Theochari, 32, said: ‘I worked for five months without being paid. ‘I blame all the previous governments for losing my job.
‘I support [hard-left government] Syriza and I voted no. I blame our own [Greek] politicians for the mess we are in.’
A pensioner, who asked not to be identified, added: ‘Germans are not very nice people. I lived through the war and they killed our people and took everything from us. Now it is like to war all over again.’
Early indications suggest Greece has voted against Europe's latest bailout package, plunging their future in the Eurozone into further doubt
The central Bank of Greece is feared to be on the brink of collapse as voters flocked to the polls to decide on their country's future
A little girl pulls a face as she carries her father's ballot paper to one of the boxes in a polling station in Athens
Her father holds her carefully as she slips the envelope into the ballot box in the hope the vote will make a difference
Greek Prime Minister Alexis Tsipras votes at a polling station in Athens as security forces prepare for widespread disorder following today's referendum
The snap referendum was called as the country became the first Western democracy to fail to pay its debts to the International Monetary Fund (IMF)
Tsipras, pictured talking to the media after voting, has been engaged in a high-stakes standoff with lenders, which resulted in Greece defaulting on its debts
Tsipras made sure he updated his followers on social media, tweeting about democracy after voting
After casting his own vote on Sunday morning Tsipras said his debt-laden country was determined to decide its own 'destiny' in the eurozone.
He said: 'No one can ignore the will of the people to live, to live with determination, to take its destiny into its own hands.
'I am certain that from tomorrow we will have broken a path for all the peoples in Europe. A path of return to the founding values of democracy and solidarity in Europe, sending a strong message of determination, not only to stay but also to live with dignity in Europe.
'Let us therefore make this act of strong will, this celebratory act of democracy, an act of determination for a better future for all of us, both in Greece and Europe. I am very optimistic.'
Casting his vote in Athens, Greece's Finance Minister Yanis Varoufakis added that the referendum 'gives hope to Europe that a common currency and democracy can coexist'.
He also said he believed a deal could be reached in 24 hours in the event of a 'No' vote.
'I don’t need to be confident, this is a beautiful democracy,' he added.
Today's voting follows a week of frenzied campaigning by supporters of both camps, with many ramping up the rhetoric in the last two days.
Varoufakis, who announced he will resign if the country votes 'Yes', yesterday said the level of fear being spread by opponents to the 'No' vote was akin to 'terrorism'.
'What they're doing with Greece has a name: terrorism,' he said in the interview with Spanish newspaper El Mundo.
'Why have they forced us to close the banks? To frighten people. And when it's about spreading terror, that is known as terrorism.'
Meanwhile, residents spent the week desperately queuing outside banks in an attempt to withdraw cash as the country slid further towards financial ruin.
Capital controls were brought in with a withdrawal limit of 60 euros (£42) per day, with sources claiming only 40 per cent of ATMs still had cash in.
Pensioners were also pictured queuing outside branches, with many banks telling them they would not be opening their doors.
The measures have turned many people towards the 'No' vote.
Some Greek voters were confused by the baffling ballot paper (above)
Many Greek voters have been left confused by the baffling wording on the ballot paper they will use to vote today.
Nearly 10 million Greeks will take to polling stations to vote 'Yes' or 'No' in the referendum, called to decide if the country will accept more austerity measures in return for bailout funds.
But many are baffled by the strange wording of the 74-word question, which asks: 'Should the deal draft that was put forward by the European Commission, the European Central Bank and the International Monetary Fund in the Eurogroup of June 25, 2015, and consists of two parts, that together form a unified proposal, be accepted? The first document is titled "Reforms for the Completion of the Current Programme and Beyond" and the second "Preliminary Debt Sustainability Analysis".'
Those against the proffered deal are asked to vote 'No', while those in favour will choose 'Yes'.
The overly complicated question has been slammed by critics as 'confusing' and 'too technical'.
Casting his vote in Athens, Greece's Finance Minister Yanis Varoufakis (pictured) said the referendum 'gives hope to Europe that a common currency and democracy can coexist'
A woman hugs Varoufakis (centre), who said he will resign if the country votes 'Yes', as he arrives at the polling station with his father Giorgos, 90
Many Greek voters have been left confused by the baffling wording on the ballot paper they will use to vote today
An Orthodox priest clutches a piece of paper as he prepares to cast his ballot, as the polls open from 7am to 7pm
It comes as polls showed the 'Yes' and 'No' camps neck-and-neck, with many people undecided as voting got under way
Different generations ensured they had their say in the referendum, as one mother carrying her little boy used the booth next to an older gentleman
Voting officials check people's identification in Meyisti, which is on the Island of Kastellorizo
Eleni Deligainni, 43, said: 'I voted 'No' to the 'Yes' that our European partners insist I choose.
'I have been jobless for nearly four years and was telling myself to be patient... but we've had enough deprivation and unemployment.'
Ioannis Nikolaou, from Athens, added: 'I voted for Tsipras and want to vote 'No' because I've lived in Europe and know what rights Europeans and Greeks have. For that reason alone. They don't have the same rights.'
But other residents think the only way the country will stave off financial ruin is by voting 'Yes'.
Yannis Kontis, 76, said: 'You call this dignity, to stand in line at teller machines for a few euros? I voted 'Yes' so we can stay with Europe.'
Conservative opposition leader Antonis Samaras added: 'Today, we Greeks decide on the fate of our country. We vote 'Yes' to Greece. We vote 'Yes' to Europe.'
Yesterday Greece was warned it is risking the collapse of its health system and power network - as well as a blockade on imports - if it votes 'No' in today's referendum.
Martin Schulz, the president of the European parliament, made the stark warning just hours before Greece's residents were due to go to the polls.
Schulz - who earlier called for the ruling Syriza party to be replaced - said the EU might have to have emergency loans in place, should the country side with its government, The Telegraph reported.
'Without new money, salaries won't be paid, the health system will stop functioning, the power network and public transport will break down, and they won't be able to import vital goods because no one can pay,' he said.
Speaking to German radio on Sunday morning, he added that Greece, which has been using the euro since 2001 when it replaced the drachma, would have to introduce another currency if the 'No' vote wins.
'Is Greece still in the euro after this referendum?,' he asked. 'That is certainly the case, but if they say 'No' they will have to introduce another currency... because the euro is not available as a means of payment.'
'The moment someone introduces a new currency, they exit the eurozone. Those are the elements that give me some hope that the people will not vote 'No' today.'
A woman walks next to a mural as she makes her way to a polling station, which has the names of voters stuck outside on pieces of paper
Greek bride Irene poses for photographs outside parliament and declared: 'The only time I will say 'Yes' today is to my new husband'
Voters look up their names on a list outside a polling station ahead of an anxious wait for tonight's result
Smoke rises over barricades prior to the referendum, which will decide on whether Greece should introduce tougher austerity measures, in a street in Athens
His comments come as a poll revealed an overwhelming majority of Greeks - around 75 per cent - wanted Greece to remain among the 19 European nations using the shared currency.
Meanwhile, the German Finance Minister suggested Greece could leave the eurozone 'temporarily'.
Wolfgang Schaeuble, one of the country's biggest creditors and toughest critics, said: 'Greece is a member of the eurozone. There's no doubt about that.
'Whether with the euro or temporarily without it: only the Greeks can answer this question. And it is clear that we will not leave the people in the lurch.'
He added that while some individual banks might collapse the risk of it spreading to other parts of the eurozone was small.
'The markets have reacted with restraint in the last few days. That shows that the problem is manageable,' he said.
An elderly woman waits at bus stop next to banners reading 'Yes to Greece, yes to Euro'
A man walks past graffiti reading 'No' as he leaves a polling station after voting. It is thought around 10 million citizens will vote today
Residents wait their turn to cast their vote as EU leaders warned other countries are not immune from the turmoil that could follow from today's result
Meanwhile, residents desperately queued outside banks in an attempt to withdraw cash as the country slid further towards financial ruin
Despite Schaeuble's confidence, Chancellor George Osborne warned this morning that the UK is not immune from the turmoil that could arise from today's result.
He said: 'I don’t think anyone should be in any doubt - the Greek situation has an impact on the European economy, which has an impact on us. We cannot be immune from these developments.
'That’s all the more reason why we have to keep our house in order, run that Budget surplus, pay down our debts be better prepared for whatever the world throws at us.
'I think there is a lot of sympathy I suspect in Britain and elsewhere in Europe for the hardship that the Greek people have endured. It’s not their fault. It’s been the fault of some pretty terrible governments they have had in the past.
'Of course we want Greece to prosper and succeed - it’s a country we feel a lot of affection for. But ultimately if you are in the single currency, there are rules you have to follow.'
But Varoufakis condemned European action towards the country and added that a trillion euros would be lost if Greece was allowed to crash.
Deputy Prime Minister Yiannis Dragasakis, meanwhile, denied media reports that he would be picked to lead a new 'grand coalition' government after the vote.
He said: 'The country has a prime minister who will have an even stronger popular mandate and support. I will serve this mandate.'
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Comment
It is the will of the people, No , vote.
Now let's sit back and watch the domino effect.
BTW, now that Greece has entered third world status if nothing else the decisions of the Greeks will impact how business is done for so called "third world" countries and the handling of their of debts. Let's see how the IMF is going to get around their hypocritical racist diplomacy now....lol, lol, lol
SCHMITTAH .... 7th Year
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