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| Greek referendum: Osborne warns UK not immune from European turmoil – live | Greek referendum: Osborne warns UK not immune from European turmoil – live |
| (35 minutes later) | |
| 10.52am BST10:52 | |
| #France's economy minister #Macron: if NO prevails at #Greece referendum, let's not re-enact the Versailles Treaty @EmmanuelMacron | |
| It was after this exchange on Thurs 25 June (lunchtime) that Tsipras called Pavlopoulos on the referendum option http://t.co/1YU0QyegIm | |
| 10.51am BST10:51 | |
| Currency traders head to work on Sunday | |
| Currency traders at several big investment banks are at their desks on Sunday, preparing for strong client demand following the Greek referendum, the Financial Times reports – £. After the weekend closure, the currency markets will start trading again in Asia on Monday morning, beginning in Australia and New Zealand at 10pm London time. | |
| HSBC said it was bringing in extra staff and JPMorgan was expected to do the same. Deutsche Bank also said staff would be covering the referendum. | |
| 10.43am BST10:43 | |
| Analysts say youth vote crucial | |
| Helena Smith | |
| More in from out Athens correspondent Helena Smith who has been speaking to analysts. | |
| Analysts are saying this morning the ballot could ultimately be swung by the youth vote. “A lot will depend on the participation of young voters today,” political commentator Aristides Hatzis told the Guardian. “Polls show that a huge majority, about 80 percent, of Greek youth would vote ‘no.’ How well the ‘no’ vote does will be based on this turn-out.” | |
| The youth of crisis-torn Greece have been hit like no other sector of society. Joblessness levels among the under 25 age group currently exceed 55 %. | |
| Earlier today I spoke to Kosmas who turned 18 in March. “I will be voting ‘no’ because we have to say ‘no’ to the rotten system,” said the teenager, fiddling a large silver earring in his left ear. “I have never known anything else. There must be something better out there.” | |
| Syriza has openly hinted it is basing much of its hope on the ‘no’ vote with Zoe Konstantopoulou, the president of the parliament and a prominent member of the party’s far left, recently cheering on the fact that, this time, young Greeks would be given the chance to vote. In general elections in January, the conservative-led government announced that for bureaucratic reasons it was too late to enroll first-time voters on the national register. | |
| And precisely because of this, the real talk of the town this morning is that the NO vote is going to win. | |
| “At this stage everyone I have talked to believes that there will be a ‘no’ vote,” added Hatzis a professor of law and economics at Athens University. “ I very much hope to be proven wrong.” | |
| Updated at 10.54am BST | |
| 10.42am BST10:42 | |
| European parliament president: Greece must introduce another currency if 'No' vote wins | |
| The head of the European parliament, Martin Schulz, told German radio that Greece will have to introduce another currency if the ‘No’ vote prevails. | |
| He told Germany’s Deutschlandfunk in an interview broadcast on Sunday and taped on Thursday: | |
| Is Greece still in the euro after this referendum? That is certainly the case, but if they say ‘No’ they will have to introduce another currency after the referendum because the euro is not available as a means of payment. | |
| The moment someone introduces a new currency, they exit the eurozone. Those are the elements that give me some hope that people will not vote ‘No’ today. | |
| Meanwhile, Germany’s hardline finance minister Wolfgang Schäuble, struck a more conciliatory tone towards Athens this weekend. Having previously insisted that a No vote on the cash-for-reforms deal would see Greece forced out of the euro, he told the Bild newspaper that the choice before Greeks was between holding on to the euro and being “temporarily without it”. | |
| It was unclear what Schäuble had in mind, but economists have mooted the notion of a period in which Greece might go back to its national currency, the drachma, while its economy recovered. The head of Germany’s Ifo institute, Hans-Werner Sinn, also suggested a temporary Grexit on Friday. | |
| 10.32am BST10:32 | |
| ECB policymaker: central bank prepared 'to do more' | |
| The European Central Bank stands ready to take additional measures if necessary, ECB executive board member Benoît Cœuré said this morning. Speaking at an economics conference in Aix-en-Provence in southern France, he said, according to Reuters: | |
| In the current circumstances of great uncertainty in Europe and the world, the ECB has been clear that if we need to do more we will do more. We will find the necessary instruments. | |
| Our will to act in this matter should not be doubted. | |
| 10.23am BST10:23 | |
| Tsipras: 'Today democracy conquers fear' | |
| “Today democracy conquers fear,” said Greek prime minister Alexis Tsipras after casting his vote in Greece’s historic referendum. Here are his comments in full, courtesy of Reuters. | |
| He said in Athens’ working class district of Kypseli, where he is registered to vote: | |
| Many people can ignore the will of a government. But no one can ignore the will of a people. | |
| Today is a day of celebration, because democracy is a celebration, it is joy. And when democracy overcomes fear and extortion, then it becomes a redemption and a way out. The Greek people today send a very strong message. A message of dignity and determination. The message that they hold a choice in their hands. No one can ignore the will of a people to live. To live with determination and take their life in their own hands. | |
| I am certain that from tomorrow we will have broken a path for all the peoples in Europe. A path of return to the founding values of democracy and solidarity in Europe, sending a strong message of determination, not only to stay but also to live with dignity in Europe. To do well and work as equals among equals. Let us therefore make this act of strong will, this celebratory act of democracy, an act of determination for a better future for all of us, both in Greece and Europe. I am very optimistic.” | |
| Updated at 10.28am BST | |
| 10.07am BST10:07 | 10.07am BST10:07 |
| Polling stations in Greece are open until 7pm local time (5pm BST), but there are suggestions that they could stay open later if they run short of envelopes. | Polling stations in Greece are open until 7pm local time (5pm BST), but there are suggestions that they could stay open later if they run short of envelopes. |
| Oxi or Nai? No or Yes on #Greek ballot paper today #Greferendum pic.twitter.com/rGkXNxBom3 | Oxi or Nai? No or Yes on #Greek ballot paper today #Greferendum pic.twitter.com/rGkXNxBom3 |
| If Greek polling stations run short of envelopes, polling might be delayed and even extended beyond planned 19:00 closure (16:00gmt) | If Greek polling stations run short of envelopes, polling might be delayed and even extended beyond planned 19:00 closure (16:00gmt) |
| 9.58am BST09:58 | 9.58am BST09:58 |
| Osborne warns UK not immune from European turmoil | Osborne warns UK not immune from European turmoil |
| Polling stations in Greece opened nearly five hours ago. | Polling stations in Greece opened nearly five hours ago. |
| George Osborne, the UK chancellor, has just been asked how he would vote in the Greek referendum on the BBC’s Andrew Marr show. | George Osborne, the UK chancellor, has just been asked how he would vote in the Greek referendum on the BBC’s Andrew Marr show. |
| He refused to say how he would vote, saying: “We should respect Greek democracy,” noting that the country is the “home of democracy”. | He refused to say how he would vote, saying: “We should respect Greek democracy,” noting that the country is the “home of democracy”. |
| Osborne warned that the UK is not immune from European turmoil, but added that Britain was prepared for any eventuality. David Cameron, the UK prime minister, will meet with Mark Carney, the governor of the Bank of England, on Monday to discuss the outcome of the Greek referendum and what it means for the rest of Europe. | Osborne warned that the UK is not immune from European turmoil, but added that Britain was prepared for any eventuality. David Cameron, the UK prime minister, will meet with Mark Carney, the governor of the Bank of England, on Monday to discuss the outcome of the Greek referendum and what it means for the rest of Europe. |
| Whatever Greece decides, Britain is prepared. We have the plans in place whatever the outcome is. | Whatever Greece decides, Britain is prepared. We have the plans in place whatever the outcome is. |
| I don’t think anyone should be in doubt that the outcome has an impact on the European economy, which is all the more reason to keep our house in order. | I don’t think anyone should be in doubt that the outcome has an impact on the European economy, which is all the more reason to keep our house in order. |
| We all want Greece to prosper…but ultimately if you’re in the single currency there are rules you have to abide by. | We all want Greece to prosper…but ultimately if you’re in the single currency there are rules you have to abide by. |
| 9.50am BST09:50 | 9.50am BST09:50 |
| Warning that potentially explosive moments lay ahead, the head of Greece’s orthodox communist party, KKE, Dimitris Koutsombas also called for unity, reports Helena Smith. | Warning that potentially explosive moments lay ahead, the head of Greece’s orthodox communist party, KKE, Dimitris Koutsombas also called for unity, reports Helena Smith. |
| “The workers’ class, with unity and alliance, must face whatever development, whether these lead to a new agreement, a guillotine essentially with tough measures or whether they lead to developments outside the euro, a double currency with our people being bankrupt.” | “The workers’ class, with unity and alliance, must face whatever development, whether these lead to a new agreement, a guillotine essentially with tough measures or whether they lead to developments outside the euro, a double currency with our people being bankrupt.” |
| The KKE has also urged supporters to reject creditors proposed reforms saying acceptance would lead to further pauperisation of Greeks. | The KKE has also urged supporters to reject creditors proposed reforms saying acceptance would lead to further pauperisation of Greeks. |
| 9.47am BST09:47 | 9.47am BST09:47 |
| Helena Smith | Helena Smith |
| Our correspondent in Athens, Helena Smith reports: | Our correspondent in Athens, Helena Smith reports: |
| By 10.30am the country’s entire political leadership had cast ballots. Voting in the central Athens district of Kypseli, prime minister Alexis Tsipras called the referendum a “day of celebration” for the crisis-hit country. | By 10.30am the country’s entire political leadership had cast ballots. Voting in the central Athens district of Kypseli, prime minister Alexis Tsipras called the referendum a “day of celebration” for the crisis-hit country. |
| Addressing a crush of reporters, amid loud cries of NO from supporters, Tsipras lashed out at the war of propaganda that had been waged in the week since he called had called the vote. | Addressing a crush of reporters, amid loud cries of NO from supporters, Tsipras lashed out at the war of propaganda that had been waged in the week since he called had called the vote. |
| “Democracy has defeated fear. The determination of the people will beat the propaganda of fear,” said the radical leftist who had openly campaigned for Greeks to vote no. “The people are sending a message. A government can be ignored but no one can ignore the desire of an entire people to take life in its hands. “ | “Democracy has defeated fear. The determination of the people will beat the propaganda of fear,” said the radical leftist who had openly campaigned for Greeks to vote no. “The people are sending a message. A government can be ignored but no one can ignore the desire of an entire people to take life in its hands. “ |
| Earlier, Greece’s head of state, president Prokopis Pavlopoulos emphasised the need for national unity. The referendum, the second to take place in more than 40 years, comes amid escalating signs of ethnic division and fears of civil strife. | Earlier, Greece’s head of state, president Prokopis Pavlopoulos emphasised the need for national unity. The referendum, the second to take place in more than 40 years, comes amid escalating signs of ethnic division and fears of civil strife. |
| “Irrespective of the result, we have to traverse what will be a difficult tomorrow with unity,” Pavlopoulos told reporters. “That is what our forefathers did. That is what we are going to do. We will go forward, all together.” | |
| Some 108,371 Greeks who have just turned 18 will vote for the first time, according to authorities. Of that number 55,206 are men and 53,165 women. Greek youth, very badly hit by unemployment, are expected in the main to vote no, pollsters say. | Some 108,371 Greeks who have just turned 18 will vote for the first time, according to authorities. Of that number 55,206 are men and 53,165 women. Greek youth, very badly hit by unemployment, are expected in the main to vote no, pollsters say. |
| Updated at 10.27am BST | |
| 9.41am BST09:41 | 9.41am BST09:41 |
| Good morning. | Good morning. |
| About 10 million Greeks are going to the polls on Sunday, to vote in a referendum that poses the biggest challenge to the euro since its adoption in 1999. We will bring you the latest news and developments throughout the day. | About 10 million Greeks are going to the polls on Sunday, to vote in a referendum that poses the biggest challenge to the euro since its adoption in 1999. We will bring you the latest news and developments throughout the day. |
| Prime minister Alexis Tsipras has urged Greeks to vote ‘Ochi’ or ‘No’ on whether to accept the bailout package drawn up with creditors, in the hope of securing a better deal. | Prime minister Alexis Tsipras has urged Greeks to vote ‘Ochi’ or ‘No’ on whether to accept the bailout package drawn up with creditors, in the hope of securing a better deal. |
| "I am optimistic" PM Tsipras says after voting #Greece pic.twitter.com/SEV6uF4exi | "I am optimistic" PM Tsipras says after voting #Greece pic.twitter.com/SEV6uF4exi |