World Economy

Greek Parliament Okays Referendum

Greek Parliament Okays ReferendumGreek Parliament Okays Referendum

The Greek parliament early on Sunday voted by a large majority to hold a referendum on continuing the country’s bailout according to the terms set by the Eurogroup, the EU, the European Central Bank, and the International Monetary Fund, Anadolu Agency reported. 176 MP’s voted in favor of the referendum with 120 MP’s voting against. Two MP’s were absent. The government required 151 votes to pass the measure. The referendum is to be held on Sunday, July 5. The reaction from Greece’s creditors was to reject any extension of the bailout beyond Tuesday. Further, International Monetary Fund Managing Director Christine Lagarde told the BBC on Sunday that the bailout vote was invalid.