Greek referendum no vote signals huge challenge to eurozone leaders...

Greece delivered a landslide no vote to the eurozone’s terms for the country remaining in the single currency on Sunday night, unleashing a seismic political shift that could derail the European project. The verdict confronts the EU’s leadership with one of its most severe crises of confidence and leaves Greece facing potential financial collapse and exit from the euro.

In a polarising referendum called by the radical leftist government of Alexis Tsipras at only eight days’ notice, Greeks voted by more than 60% to 40% in support of the prime minister, spurning the extra austerity demanded – mainly by Germany and the International Monetary Fund – in return for an extension of bailout funds.

Five years of failed austerity policies in Greece and a total breakdown in trust between the leftwing Syriza alliance and the political leaders of its creditors climaxed in a national vote in which Greeks said no to the spending cuts and tax increases demanded by its lenders.

Tsipras said that Greece “has proved that democracy cannot be blackmailed; Greece has made a brave choice and one which will change the debate in Europe. Full story...

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