Euro group chair raise the stakes at Sunday’s referendum

Dutch finance minister and Euro group chair, Jeroen Dijsselbloem has taken hard stance over Greek referendum on next Sunday.

Speaking to parliamentary committee if the outcome of Sunday's referendum is no, Greece will have no place in Euro zone.

According to him, there has been illusion which needed to sweep off that even if the outcome of the vote is negative, negotiation can continue to achieve an easier and more attractive package. If people rejects the proposal, there are no basis for further negotiation and there is also no basis for Greece in Euro zone.

On the other hand, Greek government is saying there would be further negotiation if people votes No.

As of now it is not clear, which party is predicting it right, however one thing can be said for certain there would be heavy volatility along with uncertainty if the Government in Greece prevails with a NO.