Greece2

EARLY REACTION

“JPMorgan Chase & Co. economists said a Greek departure from European monetary union is now probable after the country’s electorate rejected the austerity needed to secure international assistance.” Barclay’s agrees. (Bloomberg)

Euro down 1.3¢ vs $ / 3:17 MDT (Link USAGOLD Live page)

Deputy finance minister says Greece wants to keep euro (Reuters)

MK note:  Beginning to come into focus how Greece is going to play this.  The ball is in the EU’s court from Greek government’s perspective. Emergency EU summit scheduled for Tuesday.  Merkel, Hollande, Tusk attending.  Draghi, ECB to step aside for now, let politicians take lead.

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