Report: Greece Votes No to Austerity

Greece’s interior ministry has released an official prediction for Sunday’s referendum on the bailout, declaring that more than 60 percent of voters will reject creditor demands. The government of Prime Minister Alexis Tsipras has pushed for voters to choose “No” as they claim it will help them during negotiations with creditors. Those opposing Tsipras have argued that a “No” vote will make a Greek exit from the euro likely. So far, 70 percent of the votes have been counted, and the results have kept track with the government's projections. According to reports, nearly every district in the country voted against the bailout terms, a significant victory for Tsipras.

As a result of the referendum, German Chancellor Angela Merkel and French President Francois Hollande called for an EU summit on Tuesday to discuss the Greek situation. In addition, Greece's main opposition leader, former Prime Minister Antonis Samaras announced he was stepping down as leader of Greece's conservative New Democracy Party.