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Greece votes No in historic referendum

Greece has voted a resounding No in Sunday's referendum. Results show a No victory of 61-39 on a ...
Newstalk
Newstalk

18.26 5 Jul 2015


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Greece votes No in historic re...

Greece votes No in historic referendum

Newstalk
Newstalk

18.26 5 Jul 2015


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Greece has voted a resounding No in Sunday's referendum.

Results show a No victory of 61-39 on a turnout of 62 per cent, a massive surprise even to SYRIZA, with polls published earlier in the day suggesting a much narrower affair.

Not one region in the country has returned a Yes majority.

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The Greek Prime Minister has already spoken to the French President by phone.

Alexis Tsipras fought against demands from creditors to raise taxes and reform welfare, and following the result he says the priority is to restart negotiations:

Speaking through an interpreter, the Greek Finance Minister addressed crowds in Athens, saying the Greek people have nothing to fear:

Former Prime Minister and head of right-wing New Democracy Antonio Samaras has resigned following the result. He had been the de-facto leader of the Yes campaign.

Party researchers say there was a class and generational divide, with younger and working class voters voting No, and pensioners and richer people voting Yes.

A clear result is due by around midnight, but these early numbers suggests a crucial victory awaits the SYRIZA-led government.

Supports from the NO side in Greece have gathered in Syntagma Square in Athens to celebrate. 

Our reporter Shona Murray is at the scene:

The reaction across Europe has been swift: French President Francois Hollande will be hosting German Chancellor Angela Merkel in Paris on Monday to discuss the results of the referendum; President of the European Council Donald Tusk has called a Eurozone meeting for Tuesday; and Commission President Jean-Claude Juncker will speak to Eurogroup head Jeroen Dijsselbloem and ECB head Mario Draghi via conference call.

French Economy Minister Emmanuel Macron said negotiations should resume with Greece tomorrow "no matter what the result" of the referendum.

However, pessimistic warnings continue to arrive from Berlin. German Economy Minister Sigmar Gabriel says Alexis Tsipras has "torn down his last bridges."

"Tsipras and his government are leading the Greek people on a path of bitter abandonment and hopelessness,” he said to German newspaper Tagesspiel.

A Greek negotiating team, including State Minister and Chief Negotiator Nikos Pappas is en-route to Brussels for talks.

The first objective will be to ensure some stability in Greek banks, with withdrawals still capped at €60 and many ATMs completely empty.

Earlier Finance Minister Yanis Varoufakis told CNBC that a deal could be reached within 24 hours if Greece votes No. 

It remains to be seen whether this optimism is well-founded, as many figures from the Troika and European politics gave stern warnings of the consequences that would befall Greece if it failed to support proposed bailout packages. President of the European Parliament Martin Schulz said Greece would require a new currency if a No vote passes.


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