Eurozone Stability 'Not in Question' After Greek Vote: EU

Brussels

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 today.

"The stability of the euro area is not in question," Mr Dombrovskis told a press briefing. "We have everything we need to manage the situation."

In the final tally early on Monday, 61.31 per cent of Greeks had rejected creditor demands for further austerity in return for more bailout funds, sending Greece's Eurozone partners scrambling to respond and European stock markets tumbling.

Eurozone leaders were due to hold an emergency summit on Tuesday, and several of them have described the vote as an in-out decision on Greece's euro membership.

"The place of Greece is and remains in Europe ... all sides need to act responsibly," Mr Dombrovskis said.

"To negotiate now the European Commission needs a mandate from the Eurogroup" of Eurozone finance ministers, he said.

"It is for the summit to determine possible paths forward."

German Chancellor Angela Merkel was also set to meet with French leader Francois Hollande in Paris on Monday amid a flurry of other meetings to size up the implications of the vote, a victory for Greek Prime Minister Alexis Tsipras, who insisted it did not mean a "rupture" with Euro