Markets plunge as Tsipras declares ‘democracy won’t be blackmailed’

Greece's Prime Minister Alexis Tsipras, right, casts his vote at a polling station in Athens
Greece's Prime Minister Alexis Tsipras, right, casts his vote at a polling station in Athens
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The FTSE 100 Index fell today in reaction to Greece’s vote to reject the terms of an international bailout in Sunday’s referendum.

Greece voted by a clear margin to reject a bailout package put together by its creditors - the International Monetary Fund, the European Central Bank and the European Commission.

The final result was 61 per cent “No”, against 39 per cent “Yes”.

The FTSE 100 dropped 73.3 points to 6509.5.

Markets around the world fell sharply, with Hong Kong’s Hang Seng plunging 3 per cent and Germany’s Dax falling 1.5 per cent.

Greek prime minister Alexis Tsipras said the outcome would give his party a stronger hand to negotiate.

He added the vote proved that “democracy won’t be blackmailed”.

But Jeroen Dijsselbloem, the Eurogroup head of finance ministers, said Sunday’s referendum result was “very regrettable for the future of Greece”.