The crucial referendum comes after the country failed to unlock financial assistance from its creditors on Tuesday that made a $1.7-billion loan repayment to the International Monetary Fund (IMF) impossible.
The troika of international creditors — the European Central Bank (ECB), the European Commission and the IMF proposed a set of austerity terms on June 25. Prime Minister Alexis Tsipras announced a referendum on June 27, and a day later his idea was endorsed by the parliament and the president.
Approximately 10 million Greek citizens aged 18 and over will cast their votes until 7:00 p. m. local time (16:00 GMT) with results expected from 18:00 GMT.
A "No" vote may force Greece to leave the Eurozone and the EU and even trigger a domino effect in the bloc, some experts say. A "Yes" vote is likely to make the ruling government resign.
