Greece rejects bailout terms despite financial crisis

Greece rejects bailout terms despite financial crisis

Greeks voted overwhelmingly on Sunday to reject terms of a bailout, risking financial ruin in a show of defiance that could splinter Europe.

“This means the Greek people now have hope, can look forward to a better future and give an answer to all those people who tried to terrorize us these past days,” said Marios, an Athens resident.

“It’s a great day of celebration for the Greek people. It’s a day when, at last, democracy has prevailed. We want back our dignity, our pride, our faith in politics that we’d lost,” said Georgia, another Athens resident.

Casting their ballots in the hastily arranged referendum, millions of people delivered an unambiguous message to Greece’s creditors.

Over the past five years unemployment has soared — one in four people are now jobless. Half of Greece’s youths are unemployed. The economy has contracted by more than 25 percent.

Though the message from Greek ballot boxes is clear, Greece is now in unchartered waters.

It now risks financial and political isolation and a looming bank collapse.

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