Greece debt crisis: High-stake bailout referendum underway

Polling booths in Greece have opened for the crucial bailout referendum, in which voters will take a call on whether to accept or reject the terms being offered by European creditors.

Opinion polls have showed that the 'Yes' and 'No' camps were nip and tuck, reported Sky News.

Greece's Prime Minister Alexis Tsipras has urged a 'No' vote that would allow his government to press for a better bailout package. He has also vowed to step down from post if Greek voters accepted the terms offered by the European Union, the International Monetary Fund (IMF) and the European Central Bank (ECB).

The European Financial Stability Facility declared Greece in default on Friday, after the nation fell into arrears with the IMF.

The nation has already shut down banks across the nation over the past week, with strict limits on ATM withdrawals.