Greece Voted 61.5% No to Bailout

More than 61% of Greeks voted against its creditor's bailout offer. Greece is currently left with closed banks and depleting cash while Greek Prime Minister Alexis Tsipras agrees with Finance Minister Varoufakis resignation to boost new negotiations with creditors.

The arrangement is mainly viewed by Prime Minister Alexis Tsipras as an austerity measure against the people. Two of the country's creditors - The European Commission and the International Monetary Fund (IMF) demands cutting off welfare budgets while raising taxes to meet its current financial obligations from other European countries and financial entities. The newly elected PM vowed to go against these measures when he was elected in January this year. Mr Tsipras hoped to get a better bargaining opportunity after the Greece's "No" campaign won. However, some analysts say that despite celebrations in Athens over the vote's turnout, rejecting the creditors' offer doesn't provide any solution to its current economic problems.

Although MrTsipras won against the creditor's demands through the recenlty concluded referendum vote, there's still a possibility of totally losing all possible negotiations with creditors. If such happens, it will leave Greece with the possibility of a eurozone exit as a result from its current financial defaults. The country may also face being kicked out of the European Union. However, some members of the EU are still in the assessment phase of the so-called Greek Tragedy. German and French leaders - two major owners of Greece's debts- will be having a meeting for a joint assessment of Greece's current situation as announced by Germany's Chancellor Angela Merkel. Greek government is also boosting efforts for a renewed negotiations after the "no" majority vote.

The referendum vote turnout was immediately followed by the resignation of Greece Finance Minister Yanis Varoufakis. The outspoken mininster accused creditors of "terrorism" has apparently agreed to the sacrificial move to appease the creditors' distaste over his recent statements. Recent reports say the next finance minister will likely be Greece's chief negotiator Euclid Tsakalatos.

The Greek citizens' reaction to the "Greek Tragedy" is freedom from curbing its finances through an overall 61.5% No vote. While the country's financial and economic future is still in question, its people together with its prime minister are looking forward to a more positive turn of events.