Greek Referendum Voting

The Greek crisis is unlikely to have any impact on the Indian economy since it has only negligible exposure to the troubled Mediterranean island, fund managers said here on Monday.

Taking a jibe at some economists and commentators, Finance Minister Arun Jaitley said has they change their views according to the evolving situation as it happened in the domestic capital market on Monday in the aftermath of the referendum in Greece.

The eurozone's poorer former communist nations, having themselves endured painful market reforms and austerity programmes, are taking a hard line on Greece after its people voted to reject bailout terms.

Greece's financial system is on the brink of meltdown: banks are reported to have only around €500m left in cash - equal to just €45 (£32) per head of the 11 million-strong population.

Eurozone's stability is "not in question" after Greeks voted 'no' to creditors' austerity demands in a weekend referendum, European Commission vice president for the euro Valdis Dombrovskis said on Monday.

The resounding 'no' vote threw the future of Greece's euro zone membership into further doubt and deepened a standoff with lenders.

Oil prices fell sharply on Monday after Greece rejected bailout terms and as China rolled out emergency measures to prevent a full-blown stock market crash, adding to worries about poor demand growth amid global oversupply.

Slovakia's Finance Minister Peter Kazimir on Sunday warned that Greece's 'No' referendum result opened the door to the country's departure from the eurozone, becoming the first European minister since the crucial vote to raise the prospect of a "Grexit".

There were widespread fears that the euro would plunge in the aftermath of a "No" vote, but analysts said investors were still in the process of weighing what the decision actually means.

In a separate drama, Chinese shares surged almost eight percent in the first few minutes of trade after Beijing introduced measures to support mainland markets, which have plunged by a third over the past three weeks.

The no votes carried virtually every district in the country, handing a sweeping victory to Prime Minister Alexis Tsipras, a leftist who came to power in January vowing to reject new austerity measures.

More than 61 per cent of Greek voters on Sunday rejected fresh austerity demands by the country's EU-IMF creditors in a historic referendum, official results from over 95 percent of polling stations showed.

Cheering and chanting, thousands of Greeks who voted to say 'No' to bailout austerity measures crowded into central Athens on Sunday to celebrate a landslide referendum victory, seemingly oblivious to the threats facing the near-insolvent country.

Greeks voted overwhelmingly "No" on Sunday in a historic bailout referendum, partial results showed, defying warnings from across Europe that rejecting new austerity terms for fresh financial aid would set their country on a path out of the euro.

Opinion polls released after Greece's bailout referendum on Sunday showed the 'No' vote ahead, suggesting voters had defied warnings from across Europe that rejection of the creditors' terms would set their country on a path out of the euro.

The Greek crisis is unlikely to have any impact on the Indian economy since it has only negligible exposure to the troubled Mediterranean island, fund managers said here on Monday.

Taking a jibe at some economists and commentators, Finance Minister Arun Jaitley said has they change their views according to the evolving situation as it happened in the domestic capital market on Monday in the aftermath of the referendum in Greece.

The eurozone's poorer former communist nations, having themselves endured painful market reforms and austerity programmes, are taking a hard line on Greece after its people voted to reject bailout terms.

Greece's financial system is on the brink of meltdown: banks are reported to have only around €500m left in cash - equal to just €45 (£32) per head of the 11 million-strong population.

Eurozone's stability is "not in question" after Greeks voted 'no' to creditors' austerity demands in a weekend referendum, European Commission vice president for the euro Valdis Dombrovskis said on Monday.

The resounding 'no' vote threw the future of Greece's euro zone membership into further doubt and deepened a standoff with lenders.

Oil prices fell sharply on Monday after Greece rejected bailout terms and as China rolled out emergency measures to prevent a full-blown stock market crash, adding to worries about poor demand growth amid global oversupply.

Slovakia's Finance Minister Peter Kazimir on Sunday warned that Greece's 'No' referendum result opened the door to the country's departure from the eurozone, becoming the first European minister since the crucial vote to raise the prospect of a "Grexit".

There were widespread fears that the euro would plunge in the aftermath of a "No" vote, but analysts said investors were still in the process of weighing what the decision actually means.

In a separate drama, Chinese shares surged almost eight percent in the first few minutes of trade after Beijing introduced measures to support mainland markets, which have plunged by a third over the past three weeks.

The no votes carried virtually every district in the country, handing a sweeping victory to Prime Minister Alexis Tsipras, a leftist who came to power in January vowing to reject new austerity measures.

More than 61 per cent of Greek voters on Sunday rejected fresh austerity demands by the country's EU-IMF creditors in a historic referendum, official results from over 95 percent of polling stations showed.

Cheering and chanting, thousands of Greeks who voted to say 'No' to bailout austerity measures crowded into central Athens on Sunday to celebrate a landslide referendum victory, seemingly oblivious to the threats facing the near-insolvent country.

Greeks voted overwhelmingly "No" on Sunday in a historic bailout referendum, partial results showed, defying warnings from across Europe that rejecting new austerity terms for fresh financial aid would set their country on a path out of the euro.

Opinion polls released after Greece's bailout referendum on Sunday showed the 'No' vote ahead, suggesting voters had defied warnings from across Europe that rejection of the creditors' terms would set their country on a path out of the euro.