Gabriel Sakellaridis

Partial results from Sunday's referendum in Greece indicate voters have rejected the terms of a bailout-for-reforms deal proposed by the country's international creditors.

With over 30% of the votes counted, rejection of the bailout terms by a 'No' vote stood at 60%, while 40% had voted 'Yes' to accept the agreement put forward by creditors on 25 June.

The ‘no’ in the Greek referendum has taken an early lead as 60% of the first count gave the Greek radical left coalition government a mandate to reject international creditors’ reforms. If the trend continues, then Prime Minister Alexis Tsipras will reject the creditors compromise proposal.

Hopes were high Tuesday that Greece and its creditors can seal a debt deal in the exactly one week left to avert default, but those could fade as the Greek premier must convince his anti-austerity party to approve concessions needed to unblock bailout funds.

By Theophilos Argitis & Marcus Bensasson

Greek Prime Minister Alexis Tsipras turned Tuesday to shoring up support at home for his plan to end a five-month standoff with creditors that has brought his nation to the edge of default.

By Theophilos Argitis, Eleni Chrepa & Antonis Galanopoulos

Greece's cabinet was locked in talks with the prime minister ahead of a meeting on Monday that will decide the nation's future in Europe's currency bloc.

By Renee Maltezou & Andreas Rinke

Greece and its creditors stuck to their positions on Monday after the collapse of talks aimed at preventing a default and possible euro exit, while Germany?s EU commissioner said it was time to prepare for a ?state of emergency.?

Greece's government on Monday played down the prospect of submitting a new counter-proposal as sought by lenders in order to resume negotiations after a breakdown in talks over the weekend.

The Greek delegation in Brussels submitted a three-page proposal to its creditors in a bid to unlock bailout funds, two international officials with direct knowledge of the discussions said.

Last week’s defiant words from the leftist SYRIZA government gave way to a more diplomatic mood on Monday, as Greek leadership tried to “mend fences” with European partners.
The developments came as G7 host Angela Merkel warned that time was running out to free-up cash left over in a second bailout package and avoid any risk of a Greek default.

Greece's government considers its reforms proposal to lenders as the basis for a deal but is willing to compromise to meet the needs of euro zone and IMF creditors, the government spokesman said on Monday.