Greek Syriza party leader, Alexis Tsipras has said the "barbaric bailout" agreement is "null and void" thanks to the voting result in Greece.
The FTSE 100 fell 1% closing at 5606 giving it a three and a half year high against the Euro at 1.2411 with not much good news for the single currency onÂ theÂ horizon.
But it is looking more and more like a dead cert that Greece will leave the Euro in a not very orderly fashion but how much of this is truly priced in will emerge of the weeks ahead.
Tsipras's comments will come as welcome news to many Greeks, who face a t least a generation of austerity in order to pay back a debt that can never actually be paid back.
But the problem is can the Syriza party leader form a workable government? And with stocks in Athens down 5% today investors must question how long will existing investments remain viable and when can money be re-invested into a country unwilling to pay back global investors.
But why should investors be rewarded for speculating on a country suffering so much to pay external speculators?
High risk investments come with just that, high risks.