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Greek Finance Minister resigns

The Greek Finance Minister has resigned, a day after voters rejected a proposed bailout deal. Voters...
TodayFM
TodayFM

7:09 AM - 6 Jul 2015



Greek Finance Minister resigns

News

Greek Finance Minister resigns

TodayFM
TodayFM

7:09 AM - 6 Jul 2015



The Greek Finance Minister has resigned, a day after voters rejected a proposed bailout deal.

Voters delivered an overwhelming 'No' in a referendum on accepting more austerity in exchange for more bailout funds.

Two new summits of Eurozone finance and prime ministers have been called for tomorrow to discuss the result.

61% of voters rejected the bailout plan on offer - giving Greece a mandate to seek gentler terms and conditions including a write-off of some of its debts.

Finance minister Yanis Varoufakis has stepped down in the aftermath of the vote - saying it'll be easier for the Greek government to strike a deal without him in the room.

Prime minister Alexis Tsipras says the referendum result is a bold and courageous step - but admits there are no easy solutions to solve Greece's crisis once and for all.

It's only from today that we'll discover just how difficult a solution might be.

Separate meetings of the Eurozone's finance and prime ministers have been called for tomorrow - but in the meantime the big decision lies with the ECB, which will have to decide today whether it will maintain its cash lifeline for Greece's banks.

They may be reopened tomorrow - but only have enough cash to run for a few hours.



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