The Latest: German lawmaker doubts FM's departure helpful
By Associated Press
Jul 6, 2015 1:50 AM CDT
Supporters of the No vote react after the first results of the referendum at Klafthmonos square in Athens, Sunday, July 5, 2015. Greece faced an uncharted future as officials counted the results of a referendum Sunday on whether to accept creditors' demands for more austerity in exchange for rescue...   (Associated Press)

ATHENS, Greece (AP) — The latest on the bailout referendum in Greece (all times local):

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9:50 a.m.

A prominent lawmaker with one of Germany's governing parties says he doubts that the departure of Finance Minister Yanis Varoufakis will make talks on Greece's financial future easier.

Carsten Schneider of the center-left Social Democrats told ZDF television that the resignation is "not so important" and what matters is what policies the Greek government wants to pursue.

Varoufakis, who had annoyed many of his fellow eurozone finance ministers, said he was told that some ministers and other creditors would prefer that he not attend the ministers' meetings.

Schneider said that Varoufakis "can't keep his promises and is drawing the consequences by fleeing." He added that a new minister might create a little more trust, but what is needed is Greek willingness to accept reforms and stabilize the country.

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9:20 a.m.

Greek Finance Minister Yanis Varoufakis said in his resignation statement that his decision was made to further the Greek peoples' cause.

"We of the left know how to act collectively with no care for the privileges of office," said Varoufakis, who had become a focal point for friction in meetings with Greece's creditors.

He hailed the "no" vote in the referendum as a victory for democracy that would have global impact.

"The superhuman effort to honor the brave people of Greece, and the famous "oxi" ("no) that they granted to democrats the world over is just beginning," he said Monday morning.

No replacement has yet been named.

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8:57 a.m.

Greek Finance Minister Yanis Varoufakis has resigned, saying he was told shortly after the Greek referendum result that the some eurozone finance ministers and Greece's other creditors would prefer he not attend the ministers' meetings.

Varoufakis issued an announcement Monday saying Prime Minister Alexis Tsipras had judged that Varoufakis' resignation "might help achieve a deal" and that he was leaving the finance ministry for this reason.

Varoufakis is known for his brash style and fondness for frequent media appearances at the start of his tenure when the new government was formed in January. He had visibly annoyed many of the eurozone's finance ministers during Greece's debt negotiations.

He said in a statement released by the Finance Ministry that it is crucial there is a "proper resolution" involving debt restructuring immediately.

He said the prime minister had judged it "potentially helpful to him" if he is absent from the upcoming meetings with Greece's creditors.

"I shall wear the creditors' loathing with pride," he said, adding that he fully supports the prime minister and the government.

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3:35 a.m.

The final results of Greece's bailout referendum are in, with all 19,159 precincts reporting. The "No" side won with a higher than expected 61.31 percent, while "Yes" got 38.69 percent.

A total of 6.16 million Greeks voted in Sunday's referendum, or 62.5 percent of eligible voters. The poll needed a minimum 40 percent turnout to be valid.

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