More than 61% of Greeks voted “no” in a referendum on whether to accept creditors’ demands, setting the country on a collision course with the rest of the eurozone.
Voters were asked to vote on economic policy demands from creditors including the International Monetary Fund and the European Central Bank.
On Monday morning, Greek finance minister Yanis Varoufakis resigned, saying he had been made aware “of a certain preference by some Eurogroup participants, and assorted ‘partners’, for my… ‘absence’ from its meetings.”
European markets opened lower on Monday but the losses were not as steep as many investors and analysts had feared. The same held true when trading reached U.S. shores.