Greeks voted OXI, Euro says OK

Stunning European leaders and most of the analysts, Greek people by overwhelming majority voted 'OXI', which means 'NO'. Thus the final proposal presented by Euro zone creditors got rejected, despite plenty of warnings that it might lead to exit from Euro zone.

Unlike last Sunday, when the referendum was announced, Euro hasn't moved much, after the surprising decision.

Euro traded as low as 1.0968 against dollar, after opening gap down, however there was sharp buying from the level and Euro traded as high as 1.1096. Currently trading at 1.103 against dollar.

This is almost the level, where the single currency was trading before the referendum. Euro seems ok with Greek No. However stock markets around the world isn't.

European blue chip index, Eurostxx50 is down -1.3%. German DAX is down -0.8%. Italy's FTSE MIB is down -2.39%. Portugal's PSI 20 is down 2.3%.

In Japan Nikkei closed -2% down. US stock future S&P500 is trading -0.35% down.

Traders and investors are getting to the idea that Greek drama is likely to continue further and economic impact over Greece is not large enough to tumble the 19 nation's single currency Euro.

However Euro may still remain weak, but that may not be over Greece but ultra-loose monetary policy by European Central Bank (ECB).