In a referendum held on Sunday, 61.3% of the country voted against what they said were humiliating terms to a European bailout plan.
Greece have been in serious financial trouble since 2008, and Prime Minister Alexis Tsipras believes their debts need to be restructured in order to secure financial stability for the country.
But many European officials believe that the No vote means talks with creditors will now be incredibly difficult, and that the country could be kicked out of the Eurozone for failing to comply with the new bailout plan.
A summit of Eurozone heads have been called for Tuesday, where the future of Greece’s economy will be decided.
The European Commission wanted Greece to raise taxes, slash welfare and raise the pension age in the country in order to counteract their spiralling debt, but the new anti-austerity government have pushed back on this, saying that the demands are humiliating for the country.
On Monday morning, Greek Finance Minister Yanis Varoufakis stood down, as the heads of Greece’s main political parties met to discuss the situation.