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Greek referendum: No vote on track for landslide victory - live updates Greek referendum: No vote on track for landslide victory - live updates
(35 minutes later)
8.19pm BST20:19
Larry Elliott: It's time to give Greece some carrot
Greece’s future in the eurozone hangs by a ‘gossamer thread’ tonight, writes our economics editor Larry Elliott.
The ECB could snip that thread tomorrow, by cutting emergency liquidity. But Greece’s lenders are more likely to play a long game...
Here’s a flavour of Larry’s analysis:
The temptation for the creditors could be to let the Greeks sweat a bit, to see if a couple of weeks of a cashless economy can do what the referendum could not: effect regime change. Tsipras would be under pressure to resign and call fresh elections if the economic news worsens, and that might result in the election of a government more amenable to the rest of Europe.
But playing it long is risky. Greece might be forced out of the euro before Tsipras gets round to resigning, so desperate is its economic plight.
What the creditors should do is to respect the result of the referendum, realise that they have to give Greece something in order to prevent the crisis escalating out of control, and recognise that debt relief must be an explicit part of a funding package that will see the eurozone’s weakest member through the next couple of years. Put simply, they should try a bit less stick and a bit more carrot....
Related: Greece's vote edges it towards euro exit, but the odyssey is far from over
8.12pm BST20:12
The No celebrations are getting underway in earnest in Athens:
8.10pm BST20:10
Tsipras hits the phone
Helena Smith
Greek television are reporting that Alexis Tsipras has spoken with several European leaders, starting with the French president Francois Hollande.
There are also suggestions that ECB president Mario Draghi has also been contacted.
8.09pm BST20:09
Chants are ringing out across Syntagma Square as No campaigners celebrate their success.
There is optimism that Greece can now, finally, achieve a decisive breakthrough with its creditors, reports Matina Stevis of the Wall Street Journal.
What I'm getting from people who voted "no" is that they overwhelmingly believe Tsipras & his promise of a new negotiation starting tomorrow
This is the second time in five months that Alexis Tsipras has secured a stunning victory at the ballot box, on the promise of a better future and a break from the past. Despite the struggles since January, his supporters believe he can achieve it.
8.06pm BST20:06
The referendum results have also been hailed by the opposite end of the political spectrum; France’s anti-immigrant, eurosceptic National Front.
Their leader, Marine Le Pen, says:
“This ‘No’ from the Greek people must pave the way for a healthy new approach,”
“European countries should take advantage of this event together around the negotiating table, take stock of the failure of the euro and austerity, and organise the dissolution of the single currency system, which is needed to get back to real growth, employment and debt reduction.”
(thanks to Reuters for the quotes)
7.58pm BST19:58
The Green party has hailed tonight’s referendum as a decisive vote against austerity:
Caroline Lucas MP, who represents the British south coast constituency of Brighton Pavilion, says the eurozone must now accept that Greece needs debt relief:
“The Greek people have made a decision which must now be respected. This referendum has seen EU states do their very best to undermine the democratic will of the Greek people but it’s time to draw a line under the past and move onwards.
“History shows us that countries can escape crippling debt in a just way. In 1953, at London Conference, Greece was among the European nations signing a deal which allowed for the cancellation of German debt, to enable the country to grow again after the destruction of the Second World War. Europe needs to come together to offer the Greeks a deal which allows their country to be rebuilt.”
Updated at 7.59pm BST
7.57pm BST19:57
One important element of tonight’s voting is that young people have voted in their droves in favour of no, by around 2 to 1.
Greece’s youth have suffered particularly badly from the last five years, with youth unemployment at record levels.
But a majority of older voters backed the yes side, with their savings and pensions on the line.
Ι've been tweeting these past few days on the generational divide in the #Greferendum. Younger voters: 67% No Elder: 37% No
Updated at 7.57pm BST
7.52pm BST19:52
Half the ballot papers have now been counted, and no is still holding firm with 61% of votes.
Updated at 7.57pm BST
7.48pm BST19:48
The heads of Germany’s savings bank association has told Reuters that Greece should now leave the eurozone.
And the head of the German exporters association told Reuters he can’t see how Greece stays in the single currency now.
7.45pm BST19:45
Greek minister: We have a very strong card now
Helena Smith
Greece’s labour minister, Panos Skourletis, has reacted to the results, and hailed the outcome as a very good thing for democracy.
“The goverment can go now with a very strong card to continue negotiations [with creditors],” he told reporters outside the prime minister’s office.
Greece’s veteran commentator Pavlos Tzimas has just told SKAI TV that it is vital that an agreement is reached by 20 July, when Greece must meet a €3bn debt repayment to the European Central Bank.
But it is practically impossible to have an agreement in less than two weeks as [whatever is agreed] would need to be ratified by parliaments.
Updated at 8.07pm BST
7.44pm BST19:447.44pm BST19:44
Kathleen Brooks of Forex.com also fears for Greece’s banking sector. Kathleen Brooks, of Forex.com, also fears for Greece’s banking sector.
She writes:She writes:
A win for the No camp also makes negotiations with Greece’s creditors substantially harder, and thus, it cannot be assumed that Greece will get any more money from the EU, ECB or IMF. A win for the no camp also makes negotiations with Greece’s creditors substantially harder, and thus, it cannot be assumed that Greece will get any more money from the EU, ECB or IMF.
· This makes further defaults, including on some large sums owed to the ECB later this month, even more likely.· This makes further defaults, including on some large sums owed to the ECB later this month, even more likely.
· Overall, those who thought the chances of Grexit were at 60% last week, must now be revising them up to 80%. · Overall, those who thought the chances of Grexit were at 60% last week must now be revising them up to 80%.
Brooks believes that the ECB could take the decision to cut emergency liquidity support this week, meaning the Greek financial system “could collapse in a matter of days”.Brooks believes that the ECB could take the decision to cut emergency liquidity support this week, meaning the Greek financial system “could collapse in a matter of days”.
Without a functioning banking system, and with no decent alternative coming from the Syriza government, we expect Greece to fall into a deep recession for many years.Without a functioning banking system, and with no decent alternative coming from the Syriza government, we expect Greece to fall into a deep recession for many years.
Updated at 7.51pm BST
7.38pm BST19:387.38pm BST19:38
Financial analysts are starting to react to the Greek referendum results.Financial analysts are starting to react to the Greek referendum results.
Wolf Piccoli of Teneo Intelligence reckons that there is now a 75% that Greece will eventually leave the eurozone. Wolf Piccoli, of Teneo Intelligence, reckons that there is now a 75% chance that Greece will eventually leave the eurozone.
He believe the European Central Bank will not raise the cap on emergency liquidity, even though Greek banks are desperately short of cash. He believes the European Central Bank will not raise the cap on emergency liquidity, even though Greek banks are desperately short of cash.
This will further raise doubts over whether all of Greece’s big commercial banks will be able to survive the coming week; their remaining liquidity buffers are likely to last until Tuesday, at best. Within the ECB, there may even be a push to consider a further increase in the haircut on the collateral accepted in return for ELA access, although Monday may be too early for such a move given that the further course of negotiations is still unclear.This will further raise doubts over whether all of Greece’s big commercial banks will be able to survive the coming week; their remaining liquidity buffers are likely to last until Tuesday, at best. Within the ECB, there may even be a push to consider a further increase in the haircut on the collateral accepted in return for ELA access, although Monday may be too early for such a move given that the further course of negotiations is still unclear.
Piccoli also predicts that Greece’s creditors will maintain a hard line:Piccoli also predicts that Greece’s creditors will maintain a hard line:
Once Athens and its lenders resume talks, Tsipras is likely to point to the IMF’s recent debt sustainability analysis (which has effectively once more made the case for debt relief) and tonight’s “No” vote. But calls to respect the democratic will of the Greek people and offer a better deal will likely be answered by reference to the – in substance very different – democratic will in creditor countries. Once Athens and its lenders resume talks, Tsipras is likely to point to the IMF’s recent debt sustainability analysis [which has effectively once more made the case for debt relief] and tonight’s no vote. But calls to respect the democratic will of the Greek people and offer a better deal will likely be answered by reference to the – in substance very different – democratic will in creditor countries.
Instead, the lenders will likely argue that given the by now worsened economic situation, further efforts will be required to get the country back on track. This may translate into further cuts and/or additional revenue-raising measures to meet primary surplus targets.Instead, the lenders will likely argue that given the by now worsened economic situation, further efforts will be required to get the country back on track. This may translate into further cuts and/or additional revenue-raising measures to meet primary surplus targets.
And there is even the possibility that Greece’s president, Prokopis Pavlopoulos, resigns to trigger early elections in an attempt to prevent Greece sliding out of the eurozone.And there is even the possibility that Greece’s president, Prokopis Pavlopoulos, resigns to trigger early elections in an attempt to prevent Greece sliding out of the eurozone.
Updated at 7.49pm BST
7.31pm BST19:317.31pm BST19:31
Eurozone finance ministers are not planning on an emergency meeting tomorrow.Eurozone finance ministers are not planning on an emergency meeting tomorrow.
One official has told Reuters:One official has told Reuters:
No way. [The ministers] would not know what to discuss.No way. [The ministers] would not know what to discuss.
Updated at 7.36pm BSTUpdated at 7.36pm BST
7.20pm BST19:207.20pm BST19:20
Photos: No supporters celebratePhotos: No supporters celebrate
Supporters of the no campaign are starting to celebrate in Athens, with almost 40% of votes counted:Supporters of the no campaign are starting to celebrate in Athens, with almost 40% of votes counted:
No camp supporters are also gathering in Syntagma Square, site of the Greek parliament.No camp supporters are also gathering in Syntagma Square, site of the Greek parliament.
Just moved on to Syntagma itself where a carnival atmosphere is building up. Not a 'yes' in sight. pic.twitter.com/dSte9jmW95Just moved on to Syntagma itself where a carnival atmosphere is building up. Not a 'yes' in sight. pic.twitter.com/dSte9jmW95
Updated at 7.35pm BSTUpdated at 7.35pm BST
7.16pm BST19:167.16pm BST19:16
More than 35% of the ballot papers have now been counted, and no is still firmly ahead with 61% of the votes. The landslide is still on course.More than 35% of the ballot papers have now been counted, and no is still firmly ahead with 61% of the votes. The landslide is still on course.
7.11pm BST19:117.11pm BST19:11
Helena SmithHelena Smith
Heads may soon be rolling in the opposition camp.Heads may soon be rolling in the opposition camp.
Demands are growing for Antonis Samaras, the main opposition leader and former prime minister to step down as head of the centre-right New Democracy party following the apparent victory of the no vote, reports Helena Smith.Demands are growing for Antonis Samaras, the main opposition leader and former prime minister to step down as head of the centre-right New Democracy party following the apparent victory of the no vote, reports Helena Smith.
The former finance minister Dora Bakoyannis has called Samaras demanding that he step down with immediate effect, several media outlets are reporting.The former finance minister Dora Bakoyannis has called Samaras demanding that he step down with immediate effect, several media outlets are reporting.
There are signs that some traditional New Democracy party supporters deliberately voted no (when the party had urged Greeks to vote yes) out of protest against Samaras, who has refused to resign.There are signs that some traditional New Democracy party supporters deliberately voted no (when the party had urged Greeks to vote yes) out of protest against Samaras, who has refused to resign.
Updated at 7.32pm BSTUpdated at 7.32pm BST
7.04pm BST19:047.04pm BST19:04
Official projection: no side to win with 61%Official projection: no side to win with 61%
Greece’s interior ministry has released an official projection, showing that the no side is set to win by 61%.Greece’s interior ministry has released an official projection, showing that the no side is set to win by 61%.
That is a landslide result for the government, which had urged people to reject the bailout proposals made by lenders.That is a landslide result for the government, which had urged people to reject the bailout proposals made by lenders.
Updated at 7.05pm BSTUpdated at 7.05pm BST
6.58pm BST18:586.58pm BST18:58
Investors simply didn’t expect such a decisive win by the no side, so there could be dramatic moves in tomorrow’s financial markets.Investors simply didn’t expect such a decisive win by the no side, so there could be dramatic moves in tomorrow’s financial markets.
Government bond trader Gus Baratta predicts a lively start to trading:Government bond trader Gus Baratta predicts a lively start to trading:
Landslide OXI is no exit from Euro yet, but was discounted as tail risk. Rough market open ahead.Landslide OXI is no exit from Euro yet, but was discounted as tail risk. Rough market open ahead.
6.53pm BST18:536.53pm BST18:53
Helena SmithHelena Smith
In Athens, one of Greece’s negotiators, Euclid Tsakalotos, is predicting that the government will be able to reach an agreement with creditors very quickly.In Athens, one of Greece’s negotiators, Euclid Tsakalotos, is predicting that the government will be able to reach an agreement with creditors very quickly.
Helena Smith is hearing that a mini-cabinet meeting may well be held later tonight – amid talk that a new negotiating team may be assembled by the leftist-led government.Helena Smith is hearing that a mini-cabinet meeting may well be held later tonight – amid talk that a new negotiating team may be assembled by the leftist-led government.
Asked why he believed the government could cut a deal with creditors so soon – when for the past five months talks have been deadlocked – Tsakalotos told STAR TV:Asked why he believed the government could cut a deal with creditors so soon – when for the past five months talks have been deadlocked – Tsakalotos told STAR TV:
The first thing is that the IMF report [released last week] proves that the debt [load] is not viable and secondly that there is a new popular mandate as it would seem from the apparent result of the referendum.The first thing is that the IMF report [released last week] proves that the debt [load] is not viable and secondly that there is a new popular mandate as it would seem from the apparent result of the referendum.
Updated at 7.04pm BSTUpdated at 7.04pm BST
6.52pm BST18:526.52pm BST18:52
The London stock market is expected to fall sharply tomorrow morning, as investors brace for further turbulence in the eurozone.The London stock market is expected to fall sharply tomorrow morning, as investors brace for further turbulence in the eurozone.
IG's Sunday FTSE100 trading at 6464, 120 points lower than Friday's close. #FTSEIG's Sunday FTSE100 trading at 6464, 120 points lower than Friday's close. #FTSE
6.42pm BST18:426.42pm BST18:42
No vote still ahead, with 20% countedNo vote still ahead, with 20% counted
Twenty percent of the votes have now been counted, and the no side is holding on to a solid lead – with more than 60%, against less than 40% for the yes side.Twenty percent of the votes have now been counted, and the no side is holding on to a solid lead – with more than 60%, against less than 40% for the yes side.
Updated at 6.48pm BSTUpdated at 6.48pm BST
6.30pm BST18:306.30pm BST18:30
Greece is on track to give a “Big No”:Greece is on track to give a “Big No”:
15% counted and 60-40 to no.15% counted and 60-40 to no.
6.29pm BST18:296.29pm BST18:29
No campaign takes 60% of early votesNo campaign takes 60% of early votes
Our live results service shows that about 60% of the early votes counted have gone to the no side (ie, to reject the terms from Greece’s creditors):Our live results service shows that about 60% of the early votes counted have gone to the no side (ie, to reject the terms from Greece’s creditors):
You can track it all here: Live results: Greek referendumYou can track it all here: Live results: Greek referendum
Updated at 6.49pm BSTUpdated at 6.49pm BST
6.20pm BST18:206.20pm BST18:20
>10% votes counted. #oxi everywhere. #Greferendum pic.twitter.com/p31pIVjKsG>10% votes counted. #oxi everywhere. #Greferendum pic.twitter.com/p31pIVjKsG
6.19pm BST18:196.19pm BST18:19
Early results: no vote takes early leadEarly results: no vote takes early lead
Breaking: almost 10% of votes have been counted so far, and no has a solid lead.Breaking: almost 10% of votes have been counted so far, and no has a solid lead.
#Greferendum: first official results at 7.4% of voters, "NO" leads with 59% to "YES" at 40% #Greece pic.twitter.com/KzdA6DwKbw#Greferendum: first official results at 7.4% of voters, "NO" leads with 59% to "YES" at 40% #Greece pic.twitter.com/KzdA6DwKbw
EARLY DAYS, but a 60:40 No/Yes split so far pic.twitter.com/1vhMBldgjiEARLY DAYS, but a 60:40 No/Yes split so far pic.twitter.com/1vhMBldgji
Updated at 6.49pm BSTUpdated at 6.49pm BST
6.14pm BST18:146.14pm BST18:14
Nikos Voutsis, Greece’s interior minister and a close ally of Alexis Tsipras, has just spoken to the media.Nikos Voutsis, Greece’s interior minister and a close ally of Alexis Tsipras, has just spoken to the media.
He says that participation rate is over 50%, meaning the referendum is legally valid (the threshold is 40%). Feedback from the public shows that the public are satisfied with the way the referendum was held.He says that participation rate is over 50%, meaning the referendum is legally valid (the threshold is 40%). Feedback from the public shows that the public are satisfied with the way the referendum was held.
And Voutsis says that we should get a good official indication of the result by 9pm local time, or 7pm BST. Not long to wait....And Voutsis says that we should get a good official indication of the result by 9pm local time, or 7pm BST. Not long to wait....
Interior Minister Voutsis says hacker attacks against referendum thwarted #Greece pic.twitter.com/hO5jikyAeJInterior Minister Voutsis says hacker attacks against referendum thwarted #Greece pic.twitter.com/hO5jikyAeJ
6.08pm BST18:086.08pm BST18:08
Reuters is reporting that the Bank of Greece will ask the European Central Bank for more emergency liquidity assistance for its banks.Reuters is reporting that the Bank of Greece will ask the European Central Bank for more emergency liquidity assistance for its banks.
6.02pm BST18:026.02pm BST18:02
Across Greece, people are settling down to await tonight’s results.Across Greece, people are settling down to await tonight’s results.
Our Southern Europe editor John Hooper has secured a plum spot in a cafe near the Athens parliament, and is tweeting away:Our Southern Europe editor John Hooper has secured a plum spot in a cafe near the Athens parliament, and is tweeting away:
Athenians watching referendum exit poll results in a cafe near Syntagma square pic.twitter.com/ltPtimQXnWAthenians watching referendum exit poll results in a cafe near Syntagma square pic.twitter.com/ltPtimQXnW
It's starting to feel like a remake of 300: Spartans v Persians but with Angela Merkel as Xerxes.It's starting to feel like a remake of 300: Spartans v Persians but with Angela Merkel as Xerxes.
Updated at 6.49pm BSTUpdated at 6.49pm BST
5.58pm BST17:585.58pm BST17:58
Angelique ChrisafisAngelique Chrisafis
In Thessaloniki, Greece’s northern second city, as the referendum neared its close, voters were still steadily streaming into a primary school polling station in the centre, reports Angelique Chrisafis.In Thessaloniki, Greece’s northern second city, as the referendum neared its close, voters were still steadily streaming into a primary school polling station in the centre, reports Angelique Chrisafis.
The mood was calm. Any cashpoint queues in the surrounding streets were no longer than three or four people.The mood was calm. Any cashpoint queues in the surrounding streets were no longer than three or four people.
Some voters said their minds had been made up from the start, but others said they had struggled to decide how to vote and had felt the pressure of bank closures, capital controls and media campaigns about doomsday scenarios.Some voters said their minds had been made up from the start, but others said they had struggled to decide how to vote and had felt the pressure of bank closures, capital controls and media campaigns about doomsday scenarios.
Some said the bank controls had made them lean towards a yes vote to try to restore some kind of normality, others said bank controls had tipped them to vote no to express their anger.Some said the bank controls had made them lean towards a yes vote to try to restore some kind of normality, others said bank controls had tipped them to vote no to express their anger.
Penny Chorafa, 38, runs an architectural practice with her husband and has seen business plummet during the five years of the Greek debt crisis as construction projects stalled. She had made her mind up to vote no from the start.Penny Chorafa, 38, runs an architectural practice with her husband and has seen business plummet during the five years of the Greek debt crisis as construction projects stalled. She had made her mind up to vote no from the start.
She said she absolutely wanted Greece to stay in Europe and the eurozone and to her, these were not the core issues of the vote. Instead, she believed voting no was about protesting against austerity and refusing a bad deal from Greece’s creditors.She said she absolutely wanted Greece to stay in Europe and the eurozone and to her, these were not the core issues of the vote. Instead, she believed voting no was about protesting against austerity and refusing a bad deal from Greece’s creditors.
I voted no to make a statement to the powers-that-be that citizens’ lives have to be taken into account. It’s time for all the European countries to do something about these economic lobbies that dominate.I voted no to make a statement to the powers-that-be that citizens’ lives have to be taken into account. It’s time for all the European countries to do something about these economic lobbies that dominate.
Chorafa said if the yes vote won, she would be so disappointed she would think about leaving Greece with her two small children and moving abroad.Chorafa said if the yes vote won, she would be so disappointed she would think about leaving Greece with her two small children and moving abroad.
Antonis Vakalis, 45, who runs two private schools in the city, voted yes. He thought the referendum question was muddled, ridiculous and now out of date:Antonis Vakalis, 45, who runs two private schools in the city, voted yes. He thought the referendum question was muddled, ridiculous and now out of date:
But I voted yes to say I’m for the euro and for the unity of European countries.But I voted yes to say I’m for the euro and for the unity of European countries.
He said his vote didn’t mean that he was in favour of austerity. But amid all the confusion surrounding what the question and the referendum itself meant, he felt it was crucial to register his stance in favour of “Greece’s rightful place inside the European Union”.He said his vote didn’t mean that he was in favour of austerity. But amid all the confusion surrounding what the question and the referendum itself meant, he felt it was crucial to register his stance in favour of “Greece’s rightful place inside the European Union”.
Updated at 6.54pm BSTUpdated at 6.54pm BST
5.53pm BST17:535.53pm BST17:53
First official polls are expected to be released by Greece’s ministry of interior at 9.30pm time (7.30pm BST), Helena Smith reports.First official polls are expected to be released by Greece’s ministry of interior at 9.30pm time (7.30pm BST), Helena Smith reports.
“What we are seeing now are indications,” she adds.“What we are seeing now are indications,” she adds.
And here’s a reminder of the four opinion polls (not exit polls!) released by the Greek TV stations as the polls shut:And here’s a reminder of the four opinion polls (not exit polls!) released by the Greek TV stations as the polls shut:
Updated at 6.57pm BSTUpdated at 6.57pm BST
5.44pm BST17:445.44pm BST17:44
Government spokesman Gabriel Sakellaridis has warned that Athens needs to reach a deal fast:Government spokesman Gabriel Sakellaridis has warned that Athens needs to reach a deal fast:
Gov't spokesman #Sakellaridis on Greek TV: Negotiations.. must be concluded very soon, even after 48 hours #Greece #referendumGov't spokesman #Sakellaridis on Greek TV: Negotiations.. must be concluded very soon, even after 48 hours #Greece #referendum
Without a deal, it’s hard to see how the European Central Bank can pump more liquidity into the Greek banking sector to allow them to reopen....Without a deal, it’s hard to see how the European Central Bank can pump more liquidity into the Greek banking sector to allow them to reopen....
5.42pm BST17:425.42pm BST17:42
Greece’s finance minister has criticised the media over the way his comments to CNBC today have been reported:Greece’s finance minister has criticised the media over the way his comments to CNBC today have been reported:
"In 24h we COULD have an agreement", I said. But our toxic media rushed to report that I predicted an agreement within 24h. Go figure!"In 24h we COULD have an agreement", I said. But our toxic media rushed to report that I predicted an agreement within 24h. Go figure!
Getting a deal in 24 hours is going to be tricky, I’d suggest, as the leaders of France and Germany are holding their own meeting in Paris tomorrow night....Getting a deal in 24 hours is going to be tricky, I’d suggest, as the leaders of France and Germany are holding their own meeting in Paris tomorrow night....
Updated at 5.55pm BSTUpdated at 5.55pm BST
5.39pm BST17:395.39pm BST17:39
The French government has confirmed that Angela Merkel will visit Paris tomorrow night to discuss the Greek referendum:The French government has confirmed that Angela Merkel will visit Paris tomorrow night to discuss the Greek referendum:
#Greece: @fhollande and A.#Merkel will meet tomorrow evening at the @Elysee to assess consequences of the referendum. pic.twitter.com/ElvZzdKIQN#Greece: @fhollande and A.#Merkel will meet tomorrow evening at the @Elysee to assess consequences of the referendum. pic.twitter.com/ElvZzdKIQN
5.34pm BST17:345.34pm BST17:34
Alexis Tsipras has arrived back at his residence in Athens, according to the Kathimerini newspaper:Alexis Tsipras has arrived back at his residence in Athens, according to the Kathimerini newspaper:
Greek PM #Tsipras has arrived at Maximos Mansion #GreeceGreek PM #Tsipras has arrived at Maximos Mansion #Greece
5.31pm BST17:315.31pm BST17:31
Merkel to meet Hollande on MondayMerkel to meet Hollande on Monday
European leaders are scrambling to keep up with the latest drama in Greece.European leaders are scrambling to keep up with the latest drama in Greece.
The German chancellor, Angela Merkel, will travel to Paris on Monday afternoon to discuss the result of the Greek referendum with the French president François Hollande, a German government spokesman said on Sunday.The German chancellor, Angela Merkel, will travel to Paris on Monday afternoon to discuss the result of the Greek referendum with the French president François Hollande, a German government spokesman said on Sunday.
Merkel’s spokesman, Steffen Seibert, said:Merkel’s spokesman, Steffen Seibert, said:
The talks with the French president from 6.30pm, and over dinner, will be about a common assessment of the situation after the Greek referendum and the continuation of the close German-French cooperation on this subject.The talks with the French president from 6.30pm, and over dinner, will be about a common assessment of the situation after the Greek referendum and the continuation of the close German-French cooperation on this subject.
(via AFP)(via AFP)
That’s 5.30pm BST, or 7.30pm in Greece.That’s 5.30pm BST, or 7.30pm in Greece.
Updated at 7.00pm BSTUpdated at 7.00pm BST
5.26pm BST17:265.26pm BST17:26
Greek negotiators have 'packed their bags' ready to return to BrusselsGreek negotiators have 'packed their bags' ready to return to Brussels
Helena SmithHelena Smith
Sources in Syriza are saying that top government officials, including state minister and chief negotiator Nikos Pappas, the Greek prime minister’s closest political ally, have “packed their bags and are ready to return to Brussels” to relaunch negotiations, Helena Smith reports.Sources in Syriza are saying that top government officials, including state minister and chief negotiator Nikos Pappas, the Greek prime minister’s closest political ally, have “packed their bags and are ready to return to Brussels” to relaunch negotiations, Helena Smith reports.
Helena has been hearing that ever more ATMs have run out of cash with banks unable to replenish them.Helena has been hearing that ever more ATMs have run out of cash with banks unable to replenish them.
One source said:One source said:
The situation with banks is critical and must be addressed ASAP.The situation with banks is critical and must be addressed ASAP.
Updated at 7.04pm BSTUpdated at 7.04pm BST
5.24pm BST17:245.24pm BST17:24
These opinion polls give the governing radical left Syriza party cause for “restrained optimism” that OXI (no) is going to triumph if only marginally, says our correspondent Helena Smith in Athens.These opinion polls give the governing radical left Syriza party cause for “restrained optimism” that OXI (no) is going to triumph if only marginally, says our correspondent Helena Smith in Athens.
But, at the risk of banging on, we need to wait for official news from tonight’s counts before we know for sure.But, at the risk of banging on, we need to wait for official news from tonight’s counts before we know for sure.
Updated at 5.27pm BSTUpdated at 5.27pm BST
5.22pm BST17:225.22pm BST17:22
Here’s what government spokesman Nikos Filis told Greek television as the opinion polls were released:Here’s what government spokesman Nikos Filis told Greek television as the opinion polls were released:
I think this is guidance for the government… to move forward quickly to seek a deal and normalise the banking system.I think this is guidance for the government… to move forward quickly to seek a deal and normalise the banking system.
(via Reuters)(via Reuters)
Updated at 7.01pm BSTUpdated at 7.01pm BST
5.19pm BST17:195.19pm BST17:19
A spokesman for the Syriza party has told Reuters that these opinion polls suggest the government can now “move forward quickly” and seal a deal with its creditors (as Yanis Varoufakis predicted earlier today).A spokesman for the Syriza party has told Reuters that these opinion polls suggest the government can now “move forward quickly” and seal a deal with its creditors (as Yanis Varoufakis predicted earlier today).
#Greece #Grefenderum #Oxi All today's secret polls predict a "No". However, experts say the result is still uncertain pic.twitter.com/RGJUDcwzdv#Greece #Grefenderum #Oxi All today's secret polls predict a "No". However, experts say the result is still uncertain pic.twitter.com/RGJUDcwzdv
Updated at 5.20pm BSTUpdated at 5.20pm BST
5.17pm BST17:175.17pm BST17:17
These opinion polls also show that Greece has been split almost down the middle by this referendum, points out journalist Nick Malkoutzis:These opinion polls also show that Greece has been split almost down the middle by this referendum, points out journalist Nick Malkoutzis:
"No" ahead in opinion polls but lead slim & margin of error wide. Wait for official results. Only certainty is Greek society divided #Greece"No" ahead in opinion polls but lead slim & margin of error wide. Wait for official results. Only certainty is Greek society divided #Greece
5.14pm BST17:145.14pm BST17:14
And here’s another of the opinion polls suggesting that Greece has voted no today.And here’s another of the opinion polls suggesting that Greece has voted no today.
GPO poll for @MegaGegonota Yes 48.5% No 51.5% outcome range Yes 46.5-50.5% No 49.5-53.5% #Greferendum #GreeceGPO poll for @MegaGegonota Yes 48.5% No 51.5% outcome range Yes 46.5-50.5% No 49.5-53.5% #Greferendum #Greece
But please do remember that ballot papers are only now being counted -- we may have to wait a couple of hours for a firm indication.But please do remember that ballot papers are only now being counted -- we may have to wait a couple of hours for a firm indication.
Updated at 5.44pm BSTUpdated at 5.44pm BST
5.10pm BST17:105.10pm BST17:10
All six major Greek TV stations are predicting a victory for the No campaign, says Sky News.All six major Greek TV stations are predicting a victory for the No campaign, says Sky News.
5.07pm BST17:075.07pm BST17:07
Another poll from Skai TV has No on 51.5% and Yes on 48.5% a GDO-Mega poll pic.twitter.com/gtAOF3au3LAnother poll from Skai TV has No on 51.5% and Yes on 48.5% a GDO-Mega poll pic.twitter.com/gtAOF3au3L
5.04pm BST17:045.04pm BST17:04
Opinion Polls put no in the lead.Opinion Polls put no in the lead.
A flurry of opinion polls conducted by Greek TV stations are hitting the wires, and they are all putting the no side ahead of the Yes side:A flurry of opinion polls conducted by Greek TV stations are hitting the wires, and they are all putting the no side ahead of the Yes side:
We need to be cautious - these are not full exit polls.We need to be cautious - these are not full exit polls.
But it’s important to note that they are ALL suggesting that the people have voted to reject the bailout conditions demanded by Greece’s creditors:But it’s important to note that they are ALL suggesting that the people have voted to reject the bailout conditions demanded by Greece’s creditors:
GREEK REFERENDUM OPINION POLL BY METRON ANALYSIS SHOWS 'YES' VOTE 46 PCT, 'NO' VOTE 49 PCTGREEK REFERENDUM OPINION POLL BY METRON ANALYSIS SHOWS 'YES' VOTE 46 PCT, 'NO' VOTE 49 PCT
Alpha TV predicts No 49-54%, Yes 45-50% in #Greece referendum. Regular poll taken today, NOT an exit poll.Alpha TV predicts No 49-54%, Yes 45-50% in #Greece referendum. Regular poll taken today, NOT an exit poll.
Updated at 5.45pm BSTUpdated at 5.45pm BST
5.01pm BST17:015.01pm BST17:01
Follow the results hereFollow the results here
We’ll be tracking all tonight’s results from Greece in this interactive:We’ll be tracking all tonight’s results from Greece in this interactive:
Related: Live results: Greek referendumRelated: Live results: Greek referendum
5.00pm BST17:005.00pm BST17:00
Afternoon summary: Polls close, now for the result......Afternoon summary: Polls close, now for the result......
TAKE YOUR SEATS FOR DRAMA.TAKE YOUR SEATS FOR DRAMA.
Polling booths across Greece have just closed, as a referendum that could determine the country’s place in the eurozone comes to an end.Polling booths across Greece have just closed, as a referendum that could determine the country’s place in the eurozone comes to an end.
Local media report that voting was brisk, similar to January’s turnout, as voters had their say in a contest that has electrified Greece, and beyond.Local media report that voting was brisk, similar to January’s turnout, as voters had their say in a contest that has electrified Greece, and beyond.
Finance minister Yanis Varoufakis has told CNBC that Greece could reach a deal with its creditors within 24 hours, if Greeks vote No today.Finance minister Yanis Varoufakis has told CNBC that Greece could reach a deal with its creditors within 24 hours, if Greeks vote No today.
Straw polling has suggested that the No side may be ahead, but the full result may not be known for many hours.Straw polling has suggested that the No side may be ahead, but the full result may not be known for many hours.
The mayor of Thessaloniki, Yannis Boutaris, has called for Greek politicians to unite and go to Brussels to sign an agreement that will keep the debt-stricken country afloat next week.The mayor of Thessaloniki, Yannis Boutaris, has called for Greek politicians to unite and go to Brussels to sign an agreement that will keep the debt-stricken country afloat next week.
He told reporters:He told reporters:
“There is an atmosphere in the country of seriousness and atonement. Irrespective of the result, politicians must all go together to Brussels to make an agreement.“There is an atmosphere in the country of seriousness and atonement. Irrespective of the result, politicians must all go together to Brussels to make an agreement.
It will be difficult but that is what has to happen.”It will be difficult but that is what has to happen.”
City traders and analysts are heading to their desks to watch the results unfold. Many expect a long night as the world’s financial markets react to the drama.City traders and analysts are heading to their desks to watch the results unfold. Many expect a long night as the world’s financial markets react to the drama.
Swiss media are reporting that Greece is pushing on with an amnesty for undeclared assets, to boost revenue.Swiss media are reporting that Greece is pushing on with an amnesty for undeclared assets, to boost revenue.
And Germany’s Spiegel newspaper has warned that Angela Merkel’s chancellorship is also on the line.....And Germany’s Spiegel newspaper has warned that Angela Merkel’s chancellorship is also on the line.....
4.59pm BST16:594.59pm BST16:59
We’re about to hear a lot of noise from Greece, as phone polls conducted today are released.We’re about to hear a lot of noise from Greece, as phone polls conducted today are released.
Important note - these are not full exit polls, according to local media.Important note - these are not full exit polls, according to local media.
As @SteliosBouras1 points out, what we'll get in a few mins are opinion polls--today's polls, yes, but still not exit polls or full resultsAs @SteliosBouras1 points out, what we'll get in a few mins are opinion polls--today's polls, yes, but still not exit polls or full results
4.56pm BST16:564.56pm BST16:56
Anyone planning to vote fashionably late should consider leaving the house right nowAnyone planning to vote fashionably late should consider leaving the house right now
Five minutes to go. I'm in a calm corner of Greece where folks are gathering to follow history unfold #GreferendumFive minutes to go. I'm in a calm corner of Greece where folks are gathering to follow history unfold #Greferendum
4.48pm BST16:484.48pm BST16:48
Helena SmithHelena Smith
Our correspondent Helena Smith has learned that sources close to the EU commission in Brussels are estimating that the NO vote could be ahead by 8 -10 points.Our correspondent Helena Smith has learned that sources close to the EU commission in Brussels are estimating that the NO vote could be ahead by 8 -10 points.
But Helena says we really don’t know how reliable the figure is as we don’t know what methodology was used to come up with this figure.But Helena says we really don’t know how reliable the figure is as we don’t know what methodology was used to come up with this figure.
She adds:She adds:
Based, however, on anecdotal evidence a lot of middle class Greeks, who I spoke to today - and who would normally be firmly European and totally committed to their country’s continued role in the heart of Europe - conveyed how they had simply given up hope.Based, however, on anecdotal evidence a lot of middle class Greeks, who I spoke to today - and who would normally be firmly European and totally committed to their country’s continued role in the heart of Europe - conveyed how they had simply given up hope.
Younger middle class Greeks, with young children, said they were voting ‘no’ in the hope that at least that way their kids would have some kind of future. None of them seem to have been swayed by the fear factor: that of they voted ‘no’ the country would be kicked out of the euro.Younger middle class Greeks, with young children, said they were voting ‘no’ in the hope that at least that way their kids would have some kind of future. None of them seem to have been swayed by the fear factor: that of they voted ‘no’ the country would be kicked out of the euro.
4.42pm BST16:424.42pm BST16:42
Varoufakis tells CNBC: A deal can come in 24 hoursVaroufakis tells CNBC: A deal can come in 24 hours
CNBC has now published its interview with Greek finance minister Yanis Varoufakis.CNBC has now published its interview with Greek finance minister Yanis Varoufakis.
When asked how confident he was ahead of the result, he said:When asked how confident he was ahead of the result, he said:
I don’t need to be confident, this is a beautiful democracy. We only have to wait a few hours for the verdict to come through.I don’t need to be confident, this is a beautiful democracy. We only have to wait a few hours for the verdict to come through.
He was then asked how swiftly the Greek government could a deal with lenders, in the event of a “no” result:He was then asked how swiftly the Greek government could a deal with lenders, in the event of a “no” result:
24 hours.24 hours.
Varoufakis: We'd have a deal with #Greece's lenders in 24 hours http://t.co/QMdrWj7aZJVaroufakis: We'd have a deal with #Greece's lenders in 24 hours http://t.co/QMdrWj7aZJ
4.27pm BST16:274.27pm BST16:27
Helena SmithHelena Smith
As we flagged earlier, finance minister Yanis Varoufakis has claimed that in the event of a NO vote, a deal can be reached with creditors “within 24 hours.”As we flagged earlier, finance minister Yanis Varoufakis has claimed that in the event of a NO vote, a deal can be reached with creditors “within 24 hours.”
Is there something in this, our correspondent Helena Smith wonders?Is there something in this, our correspondent Helena Smith wonders?
I have just conducted a two-hour straw poll asking 12 people, across all age groups, if they had voted today and, if so, which way they had gone? A lot were returning from polls stations in the vicinity of central Athens.I have just conducted a two-hour straw poll asking 12 people, across all age groups, if they had voted today and, if so, which way they had gone? A lot were returning from polls stations in the vicinity of central Athens.
Of the 12 , ten said they had voted OXI (No). The two who voted yes owned shops in the district of Plaka beneath the ancient Acropolis.Of the 12 , ten said they had voted OXI (No). The two who voted yes owned shops in the district of Plaka beneath the ancient Acropolis.
If the government (as I expect is the case) has also been conducting secret exit polls, it might explain Varoufakis’ remarks.If the government (as I expect is the case) has also been conducting secret exit polls, it might explain Varoufakis’ remarks.
4.17pm BST16:174.17pm BST16:17
Sources: If there’s a NO tonight Greek govt will send negotiators back to Brussels tomo to recommence negotiations w/ eurogroup immediatelySources: If there’s a NO tonight Greek govt will send negotiators back to Brussels tomo to recommence negotiations w/ eurogroup immediately
4.14pm BST16:144.14pm BST16:14
Only one choice was being recommended at this polling station in Chalkida, Evia today, reports Daniel Howden.Only one choice was being recommended at this polling station in Chalkida, Evia today, reports Daniel Howden.
The Greek depression has hit the cement works and shipyards hard here, lending strong support to the ruling radical left coalition, Syriza.The Greek depression has hit the cement works and shipyards hard here, lending strong support to the ruling radical left coalition, Syriza.
Updated at 4.24pm BSTUpdated at 4.24pm BST
4.07pm BST16:074.07pm BST16:07
Daniel HowdenDaniel Howden
In the island of Evia, a popular retreat from the heat of Athens, there appears to be strong support for the No vote.In the island of Evia, a popular retreat from the heat of Athens, there appears to be strong support for the No vote.
Sporting a “No for dignity” badge, Athina Vlahogiorgou says that those calling for yes vote were “spitting in the face of the Greek people.”Sporting a “No for dignity” badge, Athina Vlahogiorgou says that those calling for yes vote were “spitting in the face of the Greek people.”
A single parent with two children, she is among the large cadre of the long term unemployed. “After the last five years, whoever wants to ignore what’s been done to us has something wrong in their head.”A single parent with two children, she is among the large cadre of the long term unemployed. “After the last five years, whoever wants to ignore what’s been done to us has something wrong in their head.”
“This is not about the Drachma or the Euro. This is a class issue.”“This is not about the Drachma or the Euro. This is a class issue.”
Her son, who has just turned 21, has left for London where he works in the kitchen of a fast food restaurant.Her son, who has just turned 21, has left for London where he works in the kitchen of a fast food restaurant.
“He couldn’t even find a job like that here. What do I have left to lose?”“He couldn’t even find a job like that here. What do I have left to lose?”
4.05pm BST16:054.05pm BST16:05
We’re in to the final hour of voting....We’re in to the final hour of voting....
One hour to close of polls #greferendumOne hour to close of polls #greferendum
4.04pm BST16:044.04pm BST16:04
Kate ConnollyKate Connolly
Following Angela Merkel’s statement to the Bundestag last week that a third Greek debt relief package was likely but could only be hammered out after the referendum, Anja Maier writes an interesting analysis of the German chancellor’s position in the left-wing Berlin newspaper TAZ.Following Angela Merkel’s statement to the Bundestag last week that a third Greek debt relief package was likely but could only be hammered out after the referendum, Anja Maier writes an interesting analysis of the German chancellor’s position in the left-wing Berlin newspaper TAZ.
“Is Merkel invulnerable?” she asks, arguing:“Is Merkel invulnerable?” she asks, arguing:
“At the moment, in the role of the unhysterical albeit worried leader, she appears to be undamaged by the crisis. You can sense that she is quite content with the idea of refusing to hold any more talks with Athens.“At the moment, in the role of the unhysterical albeit worried leader, she appears to be undamaged by the crisis. You can sense that she is quite content with the idea of refusing to hold any more talks with Athens.
Even in these hardcore days it is said that she is sleeping well at night. During the most critical moments of the Ukraine crisis she appeared to be much more worn out than she does now.”Even in these hardcore days it is said that she is sleeping well at night. During the most critical moments of the Ukraine crisis she appeared to be much more worn out than she does now.”
To answer further the question as to how much the Greek crisis might have damaged Merkel, Maier turns to Lutz Meyer, the PR man who managed Merkel’s 2013 election campaign.To answer further the question as to how much the Greek crisis might have damaged Merkel, Maier turns to Lutz Meyer, the PR man who managed Merkel’s 2013 election campaign.
Why, he asks, should Merkel come out of this badly? In his view:Why, he asks, should Merkel come out of this badly? In his view:
“The Euro will remain, Europe will not collapse, and Germany will retain its reputation as the country that advocates tight household budgetary control.”“The Euro will remain, Europe will not collapse, and Germany will retain its reputation as the country that advocates tight household budgetary control.”
Neither can Merkel be blamed as the German politician who made the rather controversial decision to let Greece into the Eurozone in the first place. Maybe Greece should never have been allowed in, Meyer remarks:Neither can Merkel be blamed as the German politician who made the rather controversial decision to let Greece into the Eurozone in the first place. Maybe Greece should never have been allowed in, Meyer remarks:
“But it was the government of (Gerhard) Schröder who decided on that, not Frau Merkel.”“But it was the government of (Gerhard) Schröder who decided on that, not Frau Merkel.”
Updated at 4.04pm BSTUpdated at 4.04pm BST
4.00pm BST16:004.00pm BST16:00
Whatever happens today, Greece faces plenty of political drama in the weeks ahead.Whatever happens today, Greece faces plenty of political drama in the weeks ahead.
Analysts at Royal Bank of Scotland have outlined the main consequences of today’s vote:Analysts at Royal Bank of Scotland have outlined the main consequences of today’s vote:
#Greferendum : roadmap after the vote https://t.co/GweDDciPad pic.twitter.com/owYXg5WNO6#Greferendum : roadmap after the vote https://t.co/GweDDciPad pic.twitter.com/owYXg5WNO6
(ELA = emergency funding to Greek banks, which is currently capped at €89bn).(ELA = emergency funding to Greek banks, which is currently capped at €89bn).
3.56pm BST15:563.56pm BST15:56
Kate ConnollyKate Connolly
According to respected Swiss paper, Neue Zürcher am Sonntag Zeitung, Greece is planning a tax amnesty for all Greeks who own Swiss bank accounts.According to respected Swiss paper, Neue Zürcher am Sonntag Zeitung, Greece is planning a tax amnesty for all Greeks who own Swiss bank accounts.
The country, writes the paper, is so desperate for money to fill its coffers that it has appealed to tax evaders to come forward and they will escape prosecution if they pay 21% on their undeclared income. The paper refers to “well informed circles”.The country, writes the paper, is so desperate for money to fill its coffers that it has appealed to tax evaders to come forward and they will escape prosecution if they pay 21% on their undeclared income. The paper refers to “well informed circles”.
Estimates as to how much untaxed Greek money is lying in Swiss bank accounts vary widely, ranging says the NZZ, from between €2bn to €200bn. The amnesty could therefore prove to be a good move - if tax evaders react to the offer.Estimates as to how much untaxed Greek money is lying in Swiss bank accounts vary widely, ranging says the NZZ, from between €2bn to €200bn. The amnesty could therefore prove to be a good move - if tax evaders react to the offer.
Back in April, Yanis Varoufakis pledged to introduce legislation to encourage Greeks to reveal undeclared assets in Switzerland.Back in April, Yanis Varoufakis pledged to introduce legislation to encourage Greeks to reveal undeclared assets in Switzerland.
3.50pm BST15:503.50pm BST15:50
Sky News’s economics editor, Ed Conway, has treked to the Athens suburb of Holargos where Greece’s central bank owns a printing press:Sky News’s economics editor, Ed Conway, has treked to the Athens suburb of Holargos where Greece’s central bank owns a printing press:
The heavily-fortified Greek banknote printing works. What currency will they be printing in a few months' time? pic.twitter.com/CFxurghTiZThe heavily-fortified Greek banknote printing works. What currency will they be printing in a few months' time? pic.twitter.com/CFxurghTiZ
That’s where the drachma was printed, before Greece joined the euro, and in theory it could produce notes again. Although, as explained on Bloomberg, creating a new currency usually takes months.That’s where the drachma was printed, before Greece joined the euro, and in theory it could produce notes again. Although, as explained on Bloomberg, creating a new currency usually takes months.
3.41pm BST15:413.41pm BST15:41
Hot day in Athens as Greeks vote in referendum and head to beaches. Lines at ATMs just as long, some longer #GrefenderumHot day in Athens as Greeks vote in referendum and head to beaches. Lines at ATMs just as long, some longer #Grefenderum
3.41pm BST15:413.41pm BST15:41
Jill TreanorJill Treanor
The events in Greece are dominating the thoughts of many bankers this weekend.The events in Greece are dominating the thoughts of many bankers this weekend.
Barclays has a team of foreign exchange experts arriving at 5pm. Its research, sales and trading staff have been monitoring the Greek referendum all weekend.Barclays has a team of foreign exchange experts arriving at 5pm. Its research, sales and trading staff have been monitoring the Greek referendum all weekend.
The main Asian markets will all be trading by 2.30am London time so traders will getting ready to put through trades for clients. Analysts will need to be ready to give advice to clients on the implications of the referendum.The main Asian markets will all be trading by 2.30am London time so traders will getting ready to put through trades for clients. Analysts will need to be ready to give advice to clients on the implications of the referendum.
3.21pm BST15:213.21pm BST15:21
More photos from Greece today, via our GuardianWitness assignment:More photos from Greece today, via our GuardianWitness assignment:
OXIOXI
OXI (=no) written on the Street at Ano GlyfadaOXI (=no) written on the Street at Ano Glyfada
Sent via Guardian WitnessSent via Guardian Witness
By Eleni Gabriella GrigovitsBy Eleni Gabriella Grigovits
5 July 2015, 14:115 July 2015, 14:11
Checking out where to vote Athens.Checking out where to vote Athens.
Two generations of voters checking out exactly where to cast their vote.Two generations of voters checking out exactly where to cast their vote.
Sent via Guardian WitnessSent via Guardian Witness
By finnkdBy finnkd
5 July 2015, 14:445 July 2015, 14:44
Updated at 3.27pm BSTUpdated at 3.27pm BST
3.16pm BST15:163.16pm BST15:16
3.13pm BST15:133.13pm BST15:13
The BBC’s Robert Peston reports that the Greek government will hold talks with its central bank, and the country’s major commercial banks, tonight to discuss the situation.The BBC’s Robert Peston reports that the Greek government will hold talks with its central bank, and the country’s major commercial banks, tonight to discuss the situation.
Greek finance minister @yanisvaroufakis & Bank of Greece to hold emergency meeting with banks late tonight after poll result, I've learnedGreek finance minister @yanisvaroufakis & Bank of Greece to hold emergency meeting with banks late tonight after poll result, I've learned
3.11pm BST15:113.11pm BST15:11
Sky News’s Emily Purser reports that the €60 per day cap on ATM withdrawals is now effectively down to €50, because €20 notes are in such short supply.Sky News’s Emily Purser reports that the €60 per day cap on ATM withdrawals is now effectively down to €50, because €20 notes are in such short supply.
Because banks have virtually run out of €20 notes, the withdrawal cap is effectively €50 now. Could reduce further this week #GreeceBecause banks have virtually run out of €20 notes, the withdrawal cap is effectively €50 now. Could reduce further this week #Greece
The European Central Bank is due to meet on Monday to discuss Greece, a week after capping the emergency funding it provides to its banks (which is now clearly running out).The European Central Bank is due to meet on Monday to discuss Greece, a week after capping the emergency funding it provides to its banks (which is now clearly running out).
3.01pm BST15:013.01pm BST15:01
There are just two hours to go until the polls close across Greece.There are just two hours to go until the polls close across Greece.
We may then get polling data, indicating how Greeks have voted on this momentous day.We may then get polling data, indicating how Greeks have voted on this momentous day.
However, it appears these will be ‘phone polls’, asking people how they voted - rather than surveys taken outside the polling stations.However, it appears these will be ‘phone polls’, asking people how they voted - rather than surveys taken outside the polling stations.
So we may have to wait a couple of hours until actual data come in. And if it’s a tight race, the result won’t come until after midnight in Greece (and probably the UK too)So we may have to wait a couple of hours until actual data come in. And if it’s a tight race, the result won’t come until after midnight in Greece (and probably the UK too)
Greek "exit polls" (due 5pm UK time) won't be actual data from polling stations, just phone polls done today. https://t.co/FYt2tiH0wHGreek "exit polls" (due 5pm UK time) won't be actual data from polling stations, just phone polls done today. https://t.co/FYt2tiH0wH
2.46pm BST14:462.46pm BST14:46
Kate ConnollyKate Connolly
The Bild tabloid is reporting on how Europe’s bankers are hunkering down for a long night.The Bild tabloid is reporting on how Europe’s bankers are hunkering down for a long night.
Deutsche Bank, for one, is planning a telephone conference for its top bankers at 10pm local time, in order to advise on the results of the referendum and what a ‘yes’ or a ‘no’ will mean for international creditors.Deutsche Bank, for one, is planning a telephone conference for its top bankers at 10pm local time, in order to advise on the results of the referendum and what a ‘yes’ or a ‘no’ will mean for international creditors.
Other big banks are reportedly taking similar action.Other big banks are reportedly taking similar action.
2.44pm BST14:442.44pm BST14:44
Gérard Araud, France’s ambassador to the United States, has tweeted that Paris will do everything it can to avoid Grexit:Gérard Araud, France’s ambassador to the United States, has tweeted that Paris will do everything it can to avoid Grexit:
Whatever the result of the Greek referendum, France will do its utmost so that Greece remains member of the EU and of the Eurozone.Whatever the result of the Greek referendum, France will do its utmost so that Greece remains member of the EU and of the Eurozone.
2.34pm BST14:342.34pm BST14:34
Solid turnout seen so far in Greek bailout vote: Local media reports that turnout has crossed crucial 40% mark for referendum to be valid.Solid turnout seen so far in Greek bailout vote: Local media reports that turnout has crossed crucial 40% mark for referendum to be valid.
2.34pm BST14:342.34pm BST14:34
Kate ConnollyKate Connolly
Germany’s defence minister Ursula von der Leyen has delivered a swift rebuke to Yanis Varoufakis’s claim yesterday that the Greeks had been terrorised by their creditors.Germany’s defence minister Ursula von der Leyen has delivered a swift rebuke to Yanis Varoufakis’s claim yesterday that the Greeks had been terrorised by their creditors.
She told the Passauer Neuen Presse:She told the Passauer Neuen Presse:
“The remark by Varoufakis is a mockery to everyone that suffers from (the effects) of terrorism.”“The remark by Varoufakis is a mockery to everyone that suffers from (the effects) of terrorism.”
2.32pm BST14:322.32pm BST14:32
The mayor of Thessaloniki, Greece’s second city, believes that Alexis Tsipras and the leaders of the other main political parties should “head to Brussels together” on Monday - regardless of whether Greece votes Yes or No.The mayor of Thessaloniki, Greece’s second city, believes that Alexis Tsipras and the leaders of the other main political parties should “head to Brussels together” on Monday - regardless of whether Greece votes Yes or No.
Yiannis Boutaris, who was shortlisted for World Mayor 2014, said in a statement:Yiannis Boutaris, who was shortlisted for World Mayor 2014, said in a statement:
“Whatever the result of the referendum, the prime minister and the politicalleaders must understand that they must get together and go to Brussels to give asign of credibility,”“Whatever the result of the referendum, the prime minister and the politicalleaders must understand that they must get together and go to Brussels to give asign of credibility,”
2.32pm BST14:322.32pm BST14:32
Greece’s finance minister, Yanis Varoufakis, continues to insist that Athens can reach an agreement with its lenders quickly, if the country votes no today.Greece’s finance minister, Yanis Varoufakis, continues to insist that Athens can reach an agreement with its lenders quickly, if the country votes no today.
Just now: @yanisvaroufakis Q: if it's a no vote, how quickly can you get a deal? A: "24 hours" (to @katieslaman @CNBC)Just now: @yanisvaroufakis Q: if it's a no vote, how quickly can you get a deal? A: "24 hours" (to @katieslaman @CNBC)
2.25pm BST14:252.25pm BST14:25
As well as ticking that ballot paper, Greeks have been able to express their preferences at the local cake shop:As well as ticking that ballot paper, Greeks have been able to express their preferences at the local cake shop:
Yes or no, come make an easier choice at Zappeion. Whatever you choose it's the same on the inside #greferendum pic.twitter.com/sa9dK7u61pYes or no, come make an easier choice at Zappeion. Whatever you choose it's the same on the inside #greferendum pic.twitter.com/sa9dK7u61p
2.22pm BST14:222.22pm BST14:22
The No campaign have been using images of Germany’s finance minister, Wolfgang Schäuble, and his Dutch counterpart Jeroen Dijsselbloem, to encourage people to tick the OXI box.The No campaign have been using images of Germany’s finance minister, Wolfgang Schäuble, and his Dutch counterpart Jeroen Dijsselbloem, to encourage people to tick the OXI box.
At my polling station in Petroupoli, working-class Athens suburb. #GReferendum #Greece pic.twitter.com/puyCscIkWjAt my polling station in Petroupoli, working-class Athens suburb. #GReferendum #Greece pic.twitter.com/puyCscIkWj
(Dijsselbloem has chaired the eurogroup meetings where Greece battled with its creditors so often, and with little success, this year)(Dijsselbloem has chaired the eurogroup meetings where Greece battled with its creditors so often, and with little success, this year)
Athens, electoral spot: NO/YES representatives on the right, KKE with its own ballot on the left. #Grefenderum pic.twitter.com/GrBLgPTPKmAthens, electoral spot: NO/YES representatives on the right, KKE with its own ballot on the left. #Grefenderum pic.twitter.com/GrBLgPTPKm
Updated at 3.22pm BSTUpdated at 3.22pm BST
2.15pm BST14:152.15pm BST14:15
Kate ConnollyKate Connolly
Germany’s Spiegel newspaper has the inside line of how Angela Merkel reacted last weekend to the news that Alexis Tsipras had called today’s referendum,Germany’s Spiegel newspaper has the inside line of how Angela Merkel reacted last weekend to the news that Alexis Tsipras had called today’s referendum,
It says an exasperated Merkel told the inner circle of her CDU party that his politics were “hard and ideological” and that he was “driving his country to the wall, with open eyes”.It says an exasperated Merkel told the inner circle of her CDU party that his politics were “hard and ideological” and that he was “driving his country to the wall, with open eyes”.
Spiegel says that the quotes have been confirmed by several participants of the meeting at the Konrad Adenauer House in Berlin, last Monday. It added she was flabbergasted that he could “play roulette with an entire country”.Spiegel says that the quotes have been confirmed by several participants of the meeting at the Konrad Adenauer House in Berlin, last Monday. It added she was flabbergasted that he could “play roulette with an entire country”.
Spiegel’s front page cover has Merkel sitting on the rubble of a collapsed Greece, with the headline “Die Trummerfrau” - a reference to the ‘rubble ladies’ who cleared up bombed-out Berlin after the war, and the declaration:Spiegel’s front page cover has Merkel sitting on the rubble of a collapsed Greece, with the headline “Die Trummerfrau” - a reference to the ‘rubble ladies’ who cleared up bombed-out Berlin after the war, and the declaration:
“If the Euro collapses, so too will Merkel’s chancellorship”.“If the Euro collapses, so too will Merkel’s chancellorship”.
"Woman of the ruins". If the #Euro collapse so too does #Merkel's chancellorship says @Spiegel in title story pic.twitter.com/ksDd4wtPU8"Woman of the ruins". If the #Euro collapse so too does #Merkel's chancellorship says @Spiegel in title story pic.twitter.com/ksDd4wtPU8
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Remember, you can share your experiences of today’s referendum through GuardianWitness, as this reader already has:Remember, you can share your experiences of today’s referendum through GuardianWitness, as this reader already has:
To be or not to be?To be or not to be?
Into the polling place, scanning the ballot, trying to find the better route for my country's future.Into the polling place, scanning the ballot, trying to find the better route for my country's future.
Sent via Guardian WitnessSent via Guardian Witness
By ΓΑΒΡΙΗΛ ΟΥΡΑΗΛΙΔΗΣBy ΓΑΒΡΙΗΛ ΟΥΡΑΗΛΙΔΗΣ
5 July 2015, 12:175 July 2015, 12:17
Updated at 3.06pm BSTUpdated at 3.06pm BST
2.01pm BST14:012.01pm BST14:01
Photos: Greeks head to the pollsPhotos: Greeks head to the polls
Greek are continuing to vote in steady numbers; the Mega TV channel says turnout has already hit 35%, so safely on track to clear the 40% threshold to be legally valid.Greek are continuing to vote in steady numbers; the Mega TV channel says turnout has already hit 35%, so safely on track to clear the 40% threshold to be legally valid.
And the Athens News Agency says ballot boxes are being filled at a similar rate to January’s general election, when 65% of the population voted.And the Athens News Agency says ballot boxes are being filled at a similar rate to January’s general election, when 65% of the population voted.
Here’s some of the latest photos from this momentous day:Here’s some of the latest photos from this momentous day:
Updated at 3.17pm BSTUpdated at 3.17pm BST
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Lunchtime summaryLunchtime summary
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1.24pm BST13:241.24pm BST13:24
Greek voting stations close at 5pm BST with the first exit poll expected shortly after. If the knife-edge vote indicated by the most recent opinion polls hold true, it will be the early hours of Monday before the actual result is known.Greek voting stations close at 5pm BST with the first exit poll expected shortly after. If the knife-edge vote indicated by the most recent opinion polls hold true, it will be the early hours of Monday before the actual result is known.
Four things the Greek referendum will not change – economists at Société Générale:Four things the Greek referendum will not change – economists at Société Générale:
First, in Greece - Yes or No - it will take time to gain clarity on the situation. Second, much political damage has already been done in the euro area; and more could be done. Third (and perhaps first in order of importance), the euro area needs urgently to accelerate structural reform; both the national and European level.First, in Greece - Yes or No - it will take time to gain clarity on the situation. Second, much political damage has already been done in the euro area; and more could be done. Third (and perhaps first in order of importance), the euro area needs urgently to accelerate structural reform; both the national and European level.
While our baseline scenario is that contagion from Greece will remain modest thanks to better tools, there is a negative risk scenario that could influence policy decisions further afield and notably slow Fed rate hikes.While our baseline scenario is that contagion from Greece will remain modest thanks to better tools, there is a negative risk scenario that could influence policy decisions further afield and notably slow Fed rate hikes.
On our list of points that the referendum will not change, however, is (fourth) the efforts by Chinese authorities to stem the decline in its equity markets. New measures announced by the Chinese authorities (IPO suspension and a new stabilisation fund) will be put to the test next week, whatever the Greeks vote.On our list of points that the referendum will not change, however, is (fourth) the efforts by Chinese authorities to stem the decline in its equity markets. New measures announced by the Chinese authorities (IPO suspension and a new stabilisation fund) will be put to the test next week, whatever the Greeks vote.
1.20pm BST13:201.20pm BST13:20
The BBC is working hard to provide us with coverage on Greece:The BBC is working hard to provide us with coverage on Greece:
This is commitment. @BBCTimFranks hosting #Newshour on @bbcworldservice under not one but two umbrellas. #greece pic.twitter.com/v44KYHOHFkThis is commitment. @BBCTimFranks hosting #Newshour on @bbcworldservice under not one but two umbrellas. #greece pic.twitter.com/v44KYHOHFk
1.16pm BST13:161.16pm BST13:16
Helena SmithHelena Smith
Much ado here over other remarks the European parliament’s president Martin Schulz has also made today, says Helena Smith in Athens.Much ado here over other remarks the European parliament’s president Martin Schulz has also made today, says Helena Smith in Athens.
Martin’s Schulz’s prediction that Greece will be forced to mint a new currency in the event of a ‘no’ vote has been causing waves. Several leading commentators have denounced it as shameful intervention in today’s democratic process.Martin’s Schulz’s prediction that Greece will be forced to mint a new currency in the event of a ‘no’ vote has been causing waves. Several leading commentators have denounced it as shameful intervention in today’s democratic process.
“Deplorable” wrote Nikos Hatzinikolaou whose (usual) tact has helped make him Greece’s most famous journalist.“Deplorable” wrote Nikos Hatzinikolaou whose (usual) tact has helped make him Greece’s most famous journalist.
The leading Greek daily Ta Nea reports today that the European parliament president made the comments last Thursday but “despite that they were made public on Sunday.”The leading Greek daily Ta Nea reports today that the European parliament president made the comments last Thursday but “despite that they were made public on Sunday.”
12.53pm BST12:5312.53pm BST12:53
Daniel Howden reports from central Greece again.Daniel Howden reports from central Greece again.
40 year old mother of two, Aristea, sitting on the step of the Devernohoria village school waiting for the lunch break to end at the poll station, admits that she hasn’t decided how she will vote.40 year old mother of two, Aristea, sitting on the step of the Devernohoria village school waiting for the lunch break to end at the poll station, admits that she hasn’t decided how she will vote.
“This referendum should never have happened. As Greeks we’ve reached the point where we need to get serious.”“This referendum should never have happened. As Greeks we’ve reached the point where we need to get serious.”
She’s worried for her job in a company that exports first aid equipment. But she’s more concerned that her children will grow up in a country outside the EU.She’s worried for her job in a company that exports first aid equipment. But she’s more concerned that her children will grow up in a country outside the EU.
“Our politicians are the worst of us. We don’t have leaders.”“Our politicians are the worst of us. We don’t have leaders.”
“This is our fault as Greeks and the Europeans fault as well. Everyone is to blame. We should never have got here.”“This is our fault as Greeks and the Europeans fault as well. Everyone is to blame. We should never have got here.”
She said that she would vote regardless of her reservations: “I have always voted. If you don’t vote you’re leaving it to someone else to decide.”She said that she would vote regardless of her reservations: “I have always voted. If you don’t vote you’re leaving it to someone else to decide.”
12.51pm BST12:5112.51pm BST12:51
Some people suggest the initial turnout for the referendum is low, despite all the media hype.Some people suggest the initial turnout for the referendum is low, despite all the media hype.
At least half a million Greeks are unable to cast their vote because they live abroad, unless they have travelled back to their home country (the place where they are registered to vote).At least half a million Greeks are unable to cast their vote because they live abroad, unless they have travelled back to their home country (the place where they are registered to vote).
A young Guardian reader voting for the first time says on GuardianWitness:A young Guardian reader voting for the first time says on GuardianWitness:
I’m 18, a first-time voter. Our voting station was quiet, but friends are texting me that in some other neighborhoods organised groups of Syriza youths are booing politicians and harassing voters. This is sad, in my circle of friends we are split in half, like the rest of Greece, but decided when it all started that we won’t let it affect our friendships.I’m 18, a first-time voter. Our voting station was quiet, but friends are texting me that in some other neighborhoods organised groups of Syriza youths are booing politicians and harassing voters. This is sad, in my circle of friends we are split in half, like the rest of Greece, but decided when it all started that we won’t let it affect our friendships.
Voting is such a scary thing! You have to face the fact that your decision can have a negative impact on your country.”Voting is such a scary thing! You have to face the fact that your decision can have a negative impact on your country.”
12.46pm BST12:4612.46pm BST12:46
Here are six questions (and answers) about what happens next, after the dust from the referendum settles. What happens in the event of a yes, no or ‘light no’ vote? asks Helena Smith, our correspondent in Athens.Here are six questions (and answers) about what happens next, after the dust from the referendum settles. What happens in the event of a yes, no or ‘light no’ vote? asks Helena Smith, our correspondent in Athens.
12.44pm BST12:4412.44pm BST12:44
Greek media, you lose! Democracy > fear for a fairer E.U. #OXI #oxi2015 #dimopsifisma #Greferendum pic.twitter.com/kXP6CMdHZZGreek media, you lose! Democracy > fear for a fairer E.U. #OXI #oxi2015 #dimopsifisma #Greferendum pic.twitter.com/kXP6CMdHZZ
12.41pm BST12:4112.41pm BST12:41
Former LibDem parliamentary candidate George Cunningham is in Greece.Former LibDem parliamentary candidate George Cunningham is in Greece.
I am in Greece. Referendum is taking place. OXI or NO posters dominate where I am. The EU's message is not heard much pic.twitter.com/6yqxvuv1r2I am in Greece. Referendum is taking place. OXI or NO posters dominate where I am. The EU's message is not heard much pic.twitter.com/6yqxvuv1r2
12.34pm BST12:3412.34pm BST12:34
Interesting series of tweets from Greek polling stations.Interesting series of tweets from Greek polling stations.
A greek polling place. Poll workers say the turnout rate is low. Approximately 1/3 of registered voters have voted pic.twitter.com/nYuuSnmOmpA greek polling place. Poll workers say the turnout rate is low. Approximately 1/3 of registered voters have voted pic.twitter.com/nYuuSnmOmp
A couple who just voted tell me "We don't really care. This will change nothing. It is always the same."A couple who just voted tell me "We don't really care. This will change nothing. It is always the same."
All the votes get placed in a plastic bin watched over by this lady. She says people are voting, but are confused. pic.twitter.com/7KI35rCyOeAll the votes get placed in a plastic bin watched over by this lady. She says people are voting, but are confused. pic.twitter.com/7KI35rCyOe
12.31pm BST12:3112.31pm BST12:31
Bundesbank chief told German cabinet Grexit would rip big hole in German budgetBundesbank chief told German cabinet Grexit would rip big hole in German budget
Bundesbank president Jens Weidmann has warned that the German finance minister Wolfgang Schäuble faces a big hole, of several billion euros, in his budget planning if Greece leaves the euro. He issued the stark warning to the German government in a cabinet session last Wednesday, German newspaper Handelsblatt reports, citing a government source.Bundesbank president Jens Weidmann has warned that the German finance minister Wolfgang Schäuble faces a big hole, of several billion euros, in his budget planning if Greece leaves the euro. He issued the stark warning to the German government in a cabinet session last Wednesday, German newspaper Handelsblatt reports, citing a government source.
The Bundesbank has made provisions of €14.4bn to deal with the fallout of the eurozone crisis, but this would probably not be be enough in a case of a Grexit, the paper said.The Bundesbank has made provisions of €14.4bn to deal with the fallout of the eurozone crisis, but this would probably not be be enough in a case of a Grexit, the paper said.
Weidmann warned that the costs of a Grexit would hit Bundesbank profits, which flow into the German budget. Schäuble has factored in a Bundesbank profit of €2.5bn a year.Weidmann warned that the costs of a Grexit would hit Bundesbank profits, which flow into the German budget. Schäuble has factored in a Bundesbank profit of €2.5bn a year.
The European Central Bank holds €20bn of Greek securities, and the Bundesbank’s share of the ECB’s profits or losses made on them is about a quarter. But the costs of a Grexit would be much larger, as the ECB would have to make other write-offs.The European Central Bank holds €20bn of Greek securities, and the Bundesbank’s share of the ECB’s profits or losses made on them is about a quarter. But the costs of a Grexit would be much larger, as the ECB would have to make other write-offs.
Updated at 1.13pm BSTUpdated at 1.13pm BST
12.22pm BST12:2212.22pm BST12:22
Daniel Howden has spoken to a ‘Yes’ voter. Yannis Raptodimos, 29, who lives in Dervenohoria, central Greece, and works in a local munitions factory, warns of catastrophe if the drachma is reintroduced.Daniel Howden has spoken to a ‘Yes’ voter. Yannis Raptodimos, 29, who lives in Dervenohoria, central Greece, and works in a local munitions factory, warns of catastrophe if the drachma is reintroduced.
Those who have money in the bank will vote Yes. Those with loans have been told that if they vote No they won’t have to repay them.Those who have money in the bank will vote Yes. Those with loans have been told that if they vote No they won’t have to repay them.
This is not right. If you don’t repay loans the banks will fold. With the Drachma we’ll have catastrophe.This is not right. If you don’t repay loans the banks will fold. With the Drachma we’ll have catastrophe.
12.08pm BST12:0812.08pm BST12:08
Here are some more voices from Greece.Here are some more voices from Greece.
Important day in #Greece. 17 yr old HS grads get to vote too, yet, consequences unclear either way. Driving my 17 yr old cousin home to voteImportant day in #Greece. 17 yr old HS grads get to vote too, yet, consequences unclear either way. Driving my 17 yr old cousin home to vote
Just voted in Athens, Elliniko. Remarkably organised considering it was all done in a week! Congrats! #Greferendum pic.twitter.com/gVfxAbHf0PJust voted in Athens, Elliniko. Remarkably organised considering it was all done in a week! Congrats! #Greferendum pic.twitter.com/gVfxAbHf0P
12.03pm BST12:0312.03pm BST12:03
Schulz: EU may grant more emergency aid to GreeceSchulz: EU may grant more emergency aid to Greece
European parliament president Martin Schulz has held out the prospect of more emergency loans from the EU to Greece to pay wages to civil servants and keep public services like transport, energy and the healthcare system running.European parliament president Martin Schulz has held out the prospect of more emergency loans from the EU to Greece to pay wages to civil servants and keep public services like transport, energy and the healthcare system running.
In an interview with Germany’s conservative newspaper Die Welt am Sonntag, he defended the EU’s hardline approach against Athens, and expressed his hope that Greece would vote ‘Yes’ in Sunday’s referendum.In an interview with Germany’s conservative newspaper Die Welt am Sonntag, he defended the EU’s hardline approach against Athens, and expressed his hope that Greece would vote ‘Yes’ in Sunday’s referendum.
But he held out an olive branch, saying:But he held out an olive branch, saying:
We won’t abandon the Greek people to their fate.We won’t abandon the Greek people to their fate.
11.51am BST11:5111.51am BST11:51
John Hooper, the Guardian’s southern Europe editor, writes:John Hooper, the Guardian’s southern Europe editor, writes:
First came Donald Tusk, the representative of the EU’s member governments, who said that a ‘No’ vote was “not ... about beingin the euro zone or not”. Then we had Wolfgang Schäuble telling the Greeks that the outcome of the referendum would merely decide whether their country kept the euro or would be “temporarily without it”. And now, today, we get a member of the ECB’s executive board, Benoît Cœuré appearing to say that, no matter which way the vote goes, “We will find the necessary instruments”.First came Donald Tusk, the representative of the EU’s member governments, who said that a ‘No’ vote was “not ... about beingin the euro zone or not”. Then we had Wolfgang Schäuble telling the Greeks that the outcome of the referendum would merely decide whether their country kept the euro or would be “temporarily without it”. And now, today, we get a member of the ECB’s executive board, Benoît Cœuré appearing to say that, no matter which way the vote goes, “We will find the necessary instruments”.
Odd. No?Odd. No?
All three gentlemen must surely understand that these remarks favour a ‘No’ vote. A lot of people those of us in the Guardian team here have spoken to in recent days have been in an agony of indecision: dare they vote for rejection of the terms if, as the ‘Yes’ camp has argued, it will in effect mean voting for Grexit? These comments will comfort and encourage them to put a cross by the OXI (Ochi).All three gentlemen must surely understand that these remarks favour a ‘No’ vote. A lot of people those of us in the Guardian team here have spoken to in recent days have been in an agony of indecision: dare they vote for rejection of the terms if, as the ‘Yes’ camp has argued, it will in effect mean voting for Grexit? These comments will comfort and encourage them to put a cross by the OXI (Ochi).
Is this about regime change? Are Greece’s creditors trying to engineer the downfall of their tormentor, Alexis Tsipras? It seems unlikely: a ‘Yes’ vote would surely see him out of office much more swiftly.Is this about regime change? Are Greece’s creditors trying to engineer the downfall of their tormentor, Alexis Tsipras? It seems unlikely: a ‘Yes’ vote would surely see him out of office much more swiftly.
Or are they trying instead to create the conditions for Grexit? And reassure the Greeks that they will make it as painless as they possibly can?Or are they trying instead to create the conditions for Grexit? And reassure the Greeks that they will make it as painless as they possibly can?
11.49am BST11:4911.49am BST11:49
French economy minister: Greece and creditors must get to work, can't count on ECB aloneFrench economy minister: Greece and creditors must get to work, can't count on ECB alone
Emmanuel Macron, the French economy minister, warned that Greece and its international creditors must work on a compromise to get the country out of its debt crisis, and not count only on support from the European Central Bank.Emmanuel Macron, the French economy minister, warned that Greece and its international creditors must work on a compromise to get the country out of its debt crisis, and not count only on support from the European Central Bank.
Speaking at an economics conference in Aix-en-Provence in southern France, where ECB policymaker Benoît Cœuré vowed that the ECB would take more action if necessary, Macron said:Speaking at an economics conference in Aix-en-Provence in southern France, where ECB policymaker Benoît Cœuré vowed that the ECB would take more action if necessary, Macron said:
Whatever the vote, we must start tomorrow to respond with political discussions to create a framework.Whatever the vote, we must start tomorrow to respond with political discussions to create a framework.
It’s not about taking refuge behind the ECB and others that have already done more than enough.It’s not about taking refuge behind the ECB and others that have already done more than enough.
Updated at 12.16pm BSTUpdated at 12.16pm BST
11.43am BST11:4311.43am BST11:43
Varoufakis confirms he will resign if 'Yes' vote winsVaroufakis confirms he will resign if 'Yes' vote wins
Yanis Varoufakis, Greece’s flamboyant finance minister, has confirmed that he will resign if the referendum results in a ‘Yes’ vote. But he also told Germany’s Bild newspaper that there won’t be a majority for a ‘Yes’ .Yanis Varoufakis, Greece’s flamboyant finance minister, has confirmed that he will resign if the referendum results in a ‘Yes’ vote. But he also told Germany’s Bild newspaper that there won’t be a majority for a ‘Yes’ .
Bild’s lead story on Sunday: “Greece is divided – it’s painful”. Greek journalist Liana Spyropoulou writes in the newspaper that the referendum has split families and friends.Bild’s lead story on Sunday: “Greece is divided – it’s painful”. Greek journalist Liana Spyropoulou writes in the newspaper that the referendum has split families and friends.
11.25am BST11:2511.25am BST11:25
Commentators have warned that the vote is a “complicated mess”. Mike Bird writes on Business Insider:Commentators have warned that the vote is a “complicated mess”. Mike Bird writes on Business Insider:
[The vote] asks Greeks to give a single vote on two official bailout deal documents that few will have read, and even fewer will have understood. It’s not even clear that the deal being voted on is still on offer.[The vote] asks Greeks to give a single vote on two official bailout deal documents that few will have read, and even fewer will have understood. It’s not even clear that the deal being voted on is still on offer.
Polls have been split pretty much straight down the middle. Nobody is sure who will win today.Polls have been split pretty much straight down the middle. Nobody is sure who will win today.
The opposition to the bailout deal, including the government, argue that a “No” vote against the document will empower them in negotiations. Those in favour of the deal say the referendum is really a choice between the euro and Greece leaving the eurozone (a so-called Grexit).The opposition to the bailout deal, including the government, argue that a “No” vote against the document will empower them in negotiations. Those in favour of the deal say the referendum is really a choice between the euro and Greece leaving the eurozone (a so-called Grexit).
11.22am BST11:2211.22am BST11:22
Morning summaryMorning summary
Updated at 1.19pm BSTUpdated at 1.19pm BST
11.07am BST11:0711.07am BST11:07
#greekreferendum could be written in history as the 1st nat'l referendum where EU countries where somehow involved https://t.co/51eXFqJFK5#greekreferendum could be written in history as the 1st nat'l referendum where EU countries where somehow involved https://t.co/51eXFqJFK5
10.57am BST10:5710.57am BST10:57
Postcards from the edge in Athens where toll roads have been declared free. Toll booth operators in cheerful blue polo shirts sit staring into the distance with nothing to do, waving the traffic through, reports Daniel Howden.Postcards from the edge in Athens where toll roads have been declared free. Toll booth operators in cheerful blue polo shirts sit staring into the distance with nothing to do, waving the traffic through, reports Daniel Howden.
10.52am BST10:5210.52am BST10:52
#France's economy minister #Macron: if NO prevails at #Greece referendum, let's not re-enact the Versailles Treaty @EmmanuelMacron#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/1YU0QyegImIt was after this exchange on Thurs 25 June (lunchtime) that Tsipras called Pavlopoulos on the referendum option http://t.co/1YU0QyegIm
10.51am BST10:5110.51am BST10:51
Currency traders head to work on SundayCurrency 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.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.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 BST10:4310.43am BST10:43
Analysts say youth vote crucialAnalysts say youth vote crucial
Helena SmithHelena Smith
More in from out Athens correspondent Helena Smith who has been speaking to analysts.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.”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 %.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.”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.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.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.”“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 BSTUpdated at 10.54am BST
10.42am BST10:4210.42am BST10:42
European parliament president: Greece must introduce another currency if 'No' vote winsEuropean 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.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: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.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.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”.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.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 BST10:3210.32am BST10:32
ECB policymaker: central bank prepared 'to do more'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: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.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.Our will to act in this matter should not be doubted.
10.23am BST10:2310.23am BST10:23
Tsipras: 'Today democracy conquers fear'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.“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: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.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.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.”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.”
#Tsipras is mobbed by the media after voting #Greferendum pic.twitter.com/xJQdASnFt3#Tsipras is mobbed by the media after voting #Greferendum pic.twitter.com/xJQdASnFt3
Updated at 10.59am BSTUpdated at 10.59am BST
10.07am BST10:0710.07am 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/rGkXNxBom3Oxi 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 BST09:589.58am BST09:58
Osborne warns UK not immune from European turmoilOsborne 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 BST09:509.50am 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 BST09:479.47am BST09:47
Helena SmithHelena 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.”“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 BSTUpdated at 10.27am BST
9.41am BST09:419.41am 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