The Greek people said NO to the proposal of creditors

06.07.2015

The final results of the referendum held in Greece on Sunday demonstrated unwillingness of the population to accept ultimatums offers of the EU and the IMF to continue lending in exchange for curtailing social programs.

According to the results of counting ballots from all areas, 61.31% said "no" to the proposals of creditors, and 38.69% voted in support of the proposals, said the Ministry of Internal Affairs of Greece.

European leaders begin consultations on future relations with Greece. For example, German Chancellor Angela Merkel on Monday will fly to Paris for talks on the Greek issue with French President, Francois Hollande.

Senior officials of finance departments of the eurozone gather on Monday to debate Greek debt.

Italian Prime Minister Matteo Renzi scheduled for Monday a meeting with the Minister of Economy and Finance, Pierre Carlo Padoan, to discuss issues related to the outcome of the Greek referendum.

British Prime Minister, David Cameron, will also hold a meeting with his ministers on Greek issue.

The head of the Eurogroup, Jeroen Dijsselbloem, called the results of the referendum "very sad" for the country's future.

The refusal of the majority of Greek citizens of the proposals of creditors, based on the results of the referendum on Sunday, will be an effective tool to further negotiations with lenders, said Minister of Labor of Greece, Panos Skurletis.

Greece is ready to continue cooperation with the European Union and creditors, said on Sunday the Greek Finance Minister, Yanis Varoufakis.

Greece "extends a hand of cooperation" to its creditors from the EU and the IMF, the minister said to journalists after the referendum in which the majority of citizens spoke out against the claims of creditors in the country to hold the anti-social reforms in exchange for funding.

Tsipras was congratulated for victory only by anti-European party leaders like Pablo Iglesias (Spain), Marine Le Pen (France) and Nigel Farage (UK), and Beppe Grillo hopes to contribute to a similar referendum in Italy.

The latest news also shows that Greek Finance Minister, Yanis Varoufakis, resigned. Although it seems incredible, this announcement was made on his blog and was taken from personal Twitter account.

A statement also warns that "uncertainty about the future of the Greek may lead to volatility in the financial markets."

Back Next suggested article