CRI听力:Greeks Reject Reform Terms from International Creditors with NO Voting

The message from Greece was a resounding 'NO'…. to a referendum question asking whether Greeks were prepared to accept the reforms required by creditors to disburse financial aid.

Despite warnings from EU leaders that a No result would lead to a parting of ways with Europe, Prime Minister Alexis Tsipras promised the Greek people that a rejection of the terms would not mean an ejection from the euro - but better bargaining power for a better deal.

Despina Biri is a policy adviser in the ruling Syriza government.

"Now they have the will of the Greek people behind them and they can demonstrate that this is something the Greek people support - they want the negotiations to continue for a more sustainable deal."

But that is not Europe's interpretation. After Sunday's result German economy minister Sigmar Gabriel said Greece's government just burned its last bridge of compromise. Belgian deputy prime minister Didier Teinders added that democracy works both ways…and that it will be difficult to make greater concessions as most of Greek loans come from European citizens.

All eyes will now shift from Athens to Paris - Where German Chancellor Angela Merkel is meeting French President Francois Hollande to discuss a way forward. The eurozone group of finance ministers will then meet on Tuesday.

Kostas Ifantis, a professor of political science at the University of Athens says Europe may have little appetite to continue negotiating given a deep erosion of trust between two sides accusing each other of blackmail.

"From what we read, from what European leaders keep saying is that this government is not credible anymore. Yes of course the government will have a democratic legitimacy to push again for a deal but I don't know how this can be binding for our European partners."

It may well be the European Central Bank which is forced to cut Greece loose. With ATMS and Greek banks running out of cash - Greece's banking association has submitted a new plea for the ECB to provide more emergency loans - a move its governing council decided against last week.

But this time may be different. Phillipe Ledent is a senior economist at ING Bank - he says the ECB may have to turn to european leaders before it decides to pull the plug.

"As long as there is political will in order to maintain Greece inside the euro area probably the ECB will do whatever it takes to keep it. "

But time is running out for Greece and Europe to decide what they want from one another. Meanwhile everyday life will become very tough for Greeks before it gets any better.

That was Sandra Gathmann reporting from Brussels.