With more than 60% of the results counted, official projection from Greece’s interior ministry shows no vote set to win with an overwhelming 61% share

Greece is on the brink of a historic victory for the no vote against the austerity measures demanded by its international creditors, according to the first results.

Three hours after the polls closed, and with more than 60% of the results counted, the official opinion polls showed the no camp on 61% and the yes camp with about 39%. An official projection from Greece’s interior ministry showed the no votes are set to win with an overwhelming 61% share of the vote.



If the final result reflects these early figures, it could risk plunging Europe deeper into crisis and would send shockwaves through global financial markets.

While the ballot papers were still being counted, polls conducted by telephone were showing knife-edge results, but all were pointing towards the no vote that the prime minister, Alexis Tsipras, had asked for.

Facebook Twitter Pinterest An anti-austerity voter celebrates the as early results showed the no vote inching ahead. Photograph: Yannis Behrakis/Reuters

His government has insisted that a no vote will not mean an end to negotiations with the International Monetary Fund, the European Union and the European Central Bank over a package of reforms to enable Greece to resume payments to its creditors and reopen its banks.

The Greek finance minister, Yanis Varoufakis, told CNBC before the opinion polls were published that the government could get a deal with its creditors within 24 hours.



His view was endorsed by a spokesman for the ruling party who said, after the polls were published, “I think this is guidance for the government”.

It was not clear, however, how such a deal would be put together in a politically charged situation where Tsipras has accused other eurozone leaders of being “extremist conservative forces” while he has been accused of lying to his own population.

Facebook Twitter Pinterest Prime minister Alexis Tsipras casts his vote.

Even as Tsipras was awaiting the first official results, it was suggested that his negotiating team was preparing to return to Brussels to try to secure a deal that would be crucial if its banking system is to be stabilised. However, the French government announced that its president François Hollande would meet with Angela Merkel, the German premier, whose position will prove crucial in a renegotiated deal.

The focus will be on the banking sector. The banks went into the weekend with a cash buffer of just €1bn – equal to just €90 (£64) a head for the 11 million-strong population – and queues around ATMs in Greece had continued over the weekend as citizens raced to withdraw the daily limit of €60 (around £40), which has been in place since Monday morning.



The banks will remain closed this Monday and a crucial meeting of the ECB will determine their fate. It needs to decide whether to maintain emergency liquidity assistance that has been providing a lifeline.

With Greek banks being emptied of cash, bankers in London and other financial centres were preparing to arrive at their desks in what could be volatile trading conditions when markets open on Monday. Barclays already had a team of foreign exchange experts at their desks in London by 5pm and other bankers had teams preparing to arrive hours earlier than usual.

The UK chancellor, George Osborne, said he would meet the prime minister, David Cameron, and Bank of England governor, Mark Carney, on Monday to assess the situation. Speaking on the BBC, he said: “I don’t think anyone should be in any doubt – the Greek situation has an impact on the European economy, which has an impact on us. We’ve got to keep our house in order, run that budget surplus, pay down our debts – be better prepared for whatever the world throws at us.”



