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‘No’ supporters celebrate as Greek voters reject bailout

Greeks have voted overwhelmingly to reject bailout terms offered by Greece’s international creditors.

Roughly 61 percent of Greeks who went to the polls voted “No,” according to The Guardian. Nearly 90 percent of votes have been reported.

French and German leaders called for a European Union summit on Tuesday in order to discuss Greece’s financial crisis, the Associated Press reported.

Opponents of austerity celebrated the result across Greece Sunday night.

Greeks turned out to vote Sunday in a referendum that could decide Greece’s future in Europe’s common currency.

The question to be decided was whether the beleaguered Mediterranean nation should accept the terms of a bailout offered by creditors.

Anti-austerity 'No' voters celebrate in front of the Greek parliament in Syntagma Square in Athens, Greece July 5, 2015. Greeks voted overwhelmingly "No" on Sunday in a historic bailout referendum, partial results showed, defying warnings from across Europe that rejecting new austerity terms for fresh financial aid would set their country on a path out of the euro.   REUTERS/Marko Djurica  - RTX1J4CI

Anti-austerity ‘No’ voters celebrate in front of the Greek parliament in Syntagma Square in Athens, Greece July 5, 2015. Photo by Marko Djurica/Reuters

At the heart of the crisis is a struggle between Greece and its creditors over the country’s massive debts. Greece’s cash-strapped government needs support from the European Union and the International Monetary Fund.

But as a condition of a bailout agreement, creditors demand that Greece institute deep budget cuts and structural reforms to put its economy on a tenable long-term course. Such measures are unpopular with Greeks, who have endured years of austerity and are desperate for an end to high unemployment and deep entitlement cuts.

Greek Prime Minister Alexis Tsipras licks his ballot envelope before voting at a polling station in Athens, Greece, on July 5, 2015. Greece voted on Sunday on whether to accept more austerity in exchange for international aid, in a high-stakes referendum likely to determine whether it leaves the eurozone after seven years of economic pain. Photo by Alkis Konstantinidis/Reuters

Greek Prime Minister Alexis Tsipras licks his ballot envelope before voting at a polling station in Athens, Greece, on July 5, 2015. Greece voted Sunday on whether to accept more austerity in exchange for international aid, in a high-stakes referendum likely to determine whether it leaves the eurozone after seven years of economic pain. Photo by Alkis Konstantinidis/Reuters

A “Yes” vote — an acceptance of bailouts terms — might bring down the government of anti-austerity Prime Minister Alexis Tsipras, while a vote to reject bailout terms could lead to Greece’s ejection from Europe’s single currency, an unprecedented move that could endanger Greece’s political and economic stability.

Since Tsipras rejected the bailout offer eight days ago and put the matter to a referendum, Greece has seen bank shutdowns and runs on ATMs, among other symptoms of financial peril.

Referendum campaign posters that read "No" in Greek are seen as people line up at an ATM outside a National Bank branch during a referendum vote in Athens, Greece, on July 5, 2015. Greece voted Sunday on whether to accept more austerity in exchange for international aid, in a high-stakes referendum likely to determine whether it leaves the eurozone after seven years of economic pain.   Photo by Christian Hartmann/Reuters  - RTX1J2LU

Referendum campaign posters that read “No” in Greek are seen as people line up at an ATM outside a National Bank branch during a referendum vote in Athens, Greece, on July 5, 2015. Greece voted Sunday on whether to accept more austerity in exchange for international aid, in a high-stakes referendum likely to determine whether it leaves the eurozone after seven years of economic pain. Photo by Christian Hartmann/Reuters

A Greek Orthodox priest exits a voting booth holding a ballot at a polling station in Athens, Greece, on July 5, 2015. Greece voted on Sunday on whether to accept more austerity in exchange for international aid, in a high-stakes referendum likely to determine whether it leaves the eurozone after seven years of economic pain. Photo by Yannis Behrakis/Reuters

A Greek Orthodox priest exits a voting booth holding a ballot at a polling station in Athens, Greece, on July 5, 2015. Greece voted Sunday on whether to accept more austerity in exchange for international aid, in a high-stakes referendum likely to determine whether it leaves the eurozone after seven years of economic pain. Photo by Yannis Behrakis/Reuters

NO stickers are placed on a billboard depicting Greek singer and YES supporter Sakis Rouvas in Athens, Greece, on July 5, 2015. Greece voted on Sunday on whether to accept more austerity in exchange for international aid, in a high-stakes referendum likely to determine whether it leaves the eurozone after seven years of economic pain. Photo by Yannis Behrakis/Reuters

NO stickers are placed on a billboard depicting Greek singer and YES supporter Sakis Rouvas in Athens, Greece, on July 5, 2015. Greece voted Sunday on whether to accept more austerity in exchange for international aid, in a high-stakes referendum likely to determine whether it leaves the eurozone after seven years of economic pain. Photo by Yannis Behrakis/Reuters

A voting official prepares documents before opening a polling station during a referendum in Athens, Greece, on July 5, 2015. Greece voted Sunday on whether to accept more austerity in exchange for international aid, in a high-stakes referendum likely to determine whether it leaves the eurozone after seven years of economic pain.    Photo by Jean-Paul Pelissier/Reuters

A voting official prepares documents before opening a polling station during a referendum in Athens, Greece, on July 5, 2015. Greece voted Sunday on whether to accept more austerity in exchange for international aid, in a high-stakes referendum likely to determine whether it leaves the eurozone after seven years of economic pain. Photo by Jean-Paul Pelissier/Reuters

Greek Finance Minister Yanis Varoufakis is surrounded by media as he leaves a polling station during a referendum in Athens, Greece, on July 5, 2015. Greece voted Sunday on whether to accept more austerity in exchange for international aid, in a high-stakes referendum likely to determine whether it leaves the eurozone after seven years of economic pain.   Photo by Dimitris Michalakis/Reuters

Greek Finance Minister Yanis Varoufakis is surrounded by media as he leaves a polling station during a referendum in Athens, Greece, on July 5, 2015. Greece voted Sunday on whether to accept more austerity in exchange for international aid, in a high-stakes referendum likely to determine whether it leaves the eurozone after seven years of economic pain. Photo by Dimitris Michalakis/Reuters

A man raises his arms as he leaves a polling booth during a referendum vote in Athens, Greece, on July 5, 2015. Greece voted Sunday on whether to accept more austerity in exchange for international aid, in a high-stakes referendum likely to determine whether it leaves the eurozone after seven years of economic pain.    Photo by Jean-Paul Pelissier/Reuters

A man raises his arms as he leaves a polling booth during a referendum vote in Athens, Greece, on July 5, 2015. Greece voted Sunday on whether to accept more austerity in exchange for international aid, in a high-stakes referendum likely to determine whether it leaves the eurozone after seven years of economic pain. Photo by Jean-Paul Pelissier/Reuters

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