What was the result of Greece's July 2015 bailout referendum?

In the July 5, 2015, referendum, more than 61 percent of Greek voters followed Prime Minister Alexis Tsipras’s recommendation to vote "no," thereby rejecting the terms of the bailout agreement proposed by Greece's creditors.12

Tsipras had framed the vote as a mandate to strengthen his position in negotiations for more favorable terms, rather than as a decision on Greece's continued participation in the euro zone. Despite the "no" result, the government subsequently faced the threat of financial collapse and potential exit from the euro zone, leading Tsipras to present a new, more stringent reform proposal to creditors shortly thereafter to secure a new bailout loan.12