The results of the Greek referendum on creditors proposals, resulting in 61.3% of voters rejecting further austerity measures, has resulted in a change of policy for Greece. Eurozone nations will hold an emergency summit on Tuesday to discuss the Greek referendum “No” results.

Eurogroup Chief Jeroen Dijsselbloem called the ‘no’ victory a “very regrettable” decision. German Chancellor Angela Merkel and French President Francois Hollande called for the meeting, said EU Council President Donald Tusk.

He took to Twitter on Sunday following the resounding ‘no’ by Greeks to creditor demands:

“I have called a EuroSummit on Tuesday evening at 18h to discuss situation after referendum in Greece.”

The Eurogroup will meet ahead of the European Council to “discuss the state of play”. Eurozone deputy finance ministers are meeting on Monday.

European Commission President Jean-Claude Juncker will speak with European Central Bank Chief Mario Draghi, European Council President Donald Tusk and Eurogroup Chief Jeroen Dijsselbloem via a teleconference call on Monday, he said in a statement.

Greece’s referendum was called by Prime Minister Alexis Tsipras after Eurogroup rejected Greece’s appeal for an extension to its 240-bilion-euro international bailout, followed by Greek failure to pay its 1.6-billion-euro debt to the International Monetary Fund on June 30.