Here is all you need to know about what took place over the weekend in 30 seconds;

  1. The Greek people voted against the proposed bailout package that would enforce greater austerity measures on its people. The results swung heavily in favour of the ‘No’ vote 69% vs 31%.
  2. The Greek finance minister has resigned although he was leading the ‘No’ campaign. 
  3. The ‘No’ vote means negotiations will commence all over again between the government and its creditors, but the result would suggest that a Greek default is a reality over the coming weeks.
  4. The ECB will no be prepared to lend any more in the meantime to Greece and a Grexit is next on the cards, if you have any old Drachma lying around  it might be time to start taking them out! 
  5. Greek banks remain closed and the withdrawal limit will likely to be reduced even further to stop the flight of money from Greece. 



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