On Sunday, Greeks held a nationwide referendum on whether the country should accept its creditors' demands for additional austerity measures.
With over 50 percent of votes counted, some 61.24 percent of Greeks said "No" to the bailout proposals tabled by the country's international creditors.
Greece is one of the countries hit by the 2008-2009 financial crisis. The country’s overall debt stands at about $350 billion, of which $270 billion is owed to the European Central Bank (ECB), the International Monetary Fund (IMF) and some Eurozone countries.
On June 30, Athens failed to make a $1.7-billion repayment to the International Monetary Fund (IMF), causing the country to default on its IMF debt.