Referendum an opportunity to vote on austerity ‘ultimatum,’ says Varoufakis

Greece's finance minister says the referendum gives Greeks the opportunity to decide on the austerity "ultimatum" they were handed by other countries in the 19-nation eurozone.

Yianis Varoufakis says the eurozone's "massive failures" led to demands for more austerity measures that Greeks themselves needed to express their views on. He said the vote on Sunday "gives hope to Europe that a common currency and democracy can coexist."

Varoufakis spoke as he voted along with his 90-year-old father Giorgos in the southern Athens suburb of Faliro.

This is the first Greek referendum since 1974, when Greeks voted to abolish the monarchy.

[AP]