Is it an end of Greece drama; Blood bath for Euro most likely?

Black Monday melting down for global financial markets as Greece goes bankrupt now that talks to prevent a catastrophic default by Greece next week have completely broken down.

Euro zone finance ministers have dissented a call for a grace period before a shock snap referendum after talks between IMF, Greece PM Psipras and Eurozone finance ministers and the money runs out on Tuesday. The European Central Bank's emergency lifeline funding is almost certain to be cut off as soon as today.

This is not what complacent, oversold financial markets have been expecting. They thought a last minute deal would always be done and have stayed calm until now, even rising further in anticipation.

FX markets are going to tumble heavily on Monday. The instant beneficiaries will be the US dollar and bullion and silver.