Analysts: Greece will have to print own money

The fall of the Greek Government, a state of emergency and the printing of a new currency are some of the possible scenarios after the 'no to reforms and cuts' in Sunday's referendum in Greece, according to Slovak financial analysts. "As the main scenario we see a situation in which Europe waits it out while Greece lies in the bed that it's made for itself. It could end up in tears, as its chances of staying in the eurozone have decreased to 20 percent", said Ronald Ižip from Trim Broker. "The Greek Government at the beginning will not want to leave the eurozone, and so it will start parallel currency circulation after a few days. This dual circulation will start as soon as the banks run out of cash entirely or when the Government completely runs out of euro and has nothing to pay rents and salaries with", said Kamil Boroš of X-Trade Brokers. The analysts think that a real crisis will begin if the banks don't open soon. Then there is the European Central Bank (ECB), which could raise Emergency Liquidity Assistance (ELA) for Greek banks. "The ECB will hardly do this, as the ELA facility is now at its limit", said Ižip, adding that the ECB would probably only help the Greek banks if Greece came to an agreement with the eurozone.