Polls closing after historic Greek referendum

Polls are closing in Greece after millions partook in a referendum on whether to accept reforms asked from creditors in exchange for a bailout.

Greeks have been asked to vote 'yes' to accept the terms proposed by creditors, or 'no' to reject the required reforms - a question many have criticized as confusing and with serious repercussions for Greece's future in the euro.

The referendum was called last week by Greece's Prime Minister Alexis Tsipras after 5 months of negotiations, following his party Syriza's rise to power on the promise to end austerity.

Banks have been shut across Greece for a week with capital controls limiting people to 60 euros a day and lenders now sitting on less than 1 billion euros.

Meanwhile there has also been criticism over the legitimacy of the ballot question which relates to a proposal offered by creditors before Greece's bailout expired last week.

Kostas Ifantis, a professor of political science at the University of Athens says the referendum was called too quickly.

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In a surprise move the IMF has also added to the debate about whether to write off Greek debt which has fueled the arguments of the leftist Greek government against the eurozone for failing to address Greece's longterm debt. 

But Kostas Ifantis, a professor of political science at the University of Athens, says the IMF's comments relate to Greek debt today.

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Eurozone leaders have said a 'yes' outcome will mean Greece can stay in Europe but 
Kostas Ifantis, a professor of political science at the University of Athens, says there's skepticism about how to work with Syriza on a new deal.

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