The Day after the Greek Referendum

The official results of the Greek referendum released today by the Interior Ministry with 100% of votes counted across the country are the following: voter participation totaled 62.5% with 61.31% voting 'No' and 38.69% voting 'Yes'.

With approximately 80% of the votes counted, Prime Minister Alexis Tsipras said in a televised address to the nation on Sunday night that this was a "historic, brave choice" by Greek voters, and that "the manDateAdded you’ve given me does not call for a break with Europe, but rather gives me greater negotiating strength."

Dismissing talk that the referendum was effectively a vote on whether Greece stays in the euro, Tsipras said the manDateAdded that Greeks had given him was to reach a viable solution rather than clash with Europe.

German Chancellor Angela Merkel and French President Francois Hollande have agreed that "the vote of the Greek people must be respected," according to a spokesman. Merkel and Hollande will meet in Paris this afternoon to mull over a strategy to avoid crisis escalation within the eurozone and Europe.

The meeting comes ahead of another emergency summit of leaders and finance ministers from all eurozone countries, to take place tomorrow, July 7, as announced by EU President Donald Tusk, in a tweet: "I have called a #EuroSummit Tuesday evening at 18h to discuss situation after referendum in #Greece."

French finance minister Michel Sapin told Europe 1 radio [in French] that “The ‘no’ carries a considerable risk for Greece….But there is nothing automatic.” He added: "there is on the table a basis for dialogue but it is up to Greece to show that it will take this dialogue seriously." He said it was “up to the Greek government and Mr. Tsipras to make new proposals as quickly as possible.” Commenting on possible reaction of the European Central Bank to the Greek vote, Sapin said that “there is a level of liquidity today. This level of liquidity cannot be reduced.”

Earlier in the week, in a letter sent to Christine Lagarde, Director of the International Monetary Fund, 10 USA congressmen urged her to show flexibility, as soon as possible, in order to avoid a default situation, or other unintended consequences.