Looks like the Greeks have voted "OXI" on the proposed bailout by the ECB. And according to sources they have only 2-3 days of money left.
So they're at the point of does the ECB (and the EU or at least Germany) bail them out anyway, without any concessions or plans to "fix" their economy and budget
OR
Do we get the Greexit, where the Greeks leave the Euro Union and go back to the drachma. In which case, Greece becomes a shoppers and tourist paradise because of the rapidly deflated (and deflating) currency. (Anyone want to by the Parthenon for pennies on the dollar or drachma?)
It will be interesting to see who blinks first. Because if the EU does, then Greece will never get it's fiscal house in order. If Greece does, then the .gov falls, and the country will descend into anarchy for a while with whoknowswhat emerging from the other side. IIRC, the Greek Fascist/Nationalist/Nazi's) are in a coalition with the Socialists, so there's always that, however the heart of Europe is long slog and many warlike cultures away from Greece. However, they hate the Turks and could cause a metric buttload of trouble in the Med (Hello 6th Fleet !!!)
Anywho, the next two days will be fun to watch. While the EU could weather the storm of a Greexit without much of a hiccup, for now. Spain, Portugal, Italy, and Ireland are rumoured to be the next dominoes to fall in this on-going saga.
So strap in and hunker down the next 48 hours are going to be very interesting. Especially if you are invested in any of the markets. Might be a good time to move to a cash position, and buy stuff that tumbles in the next few days or so.