Investors will be bracing themselves for increased volatility thanks to the Greek 'no' and will be gearing up for an important buying opportunity, affirms the CEO of one of the world's largest independent financial advisory firms.
The comments from Nigel Green, founder and chief executive of deVere Group which has $10bn under advice, come as Greek people return a message of rejection to European austerity.
He observes: "Greece has revolted and has essentially 'given the finger' to Europe in its historic vote.
"With depressing predictability there will be extensive negotiations taking place right now behind the scenes between Athens and its creditors. I suspect that there will be a degree of debt relief for Greece, but Eurozone leaders will be aware of the considerable consequences of softening their stance too much."
He continues: "In the wider scheme, it remains unclear what has been ultimately achieved at this stage – except more chaos.
"This chaos will mean that investors will be braced for more turbulence and there could be a stock market sell-off over the coming days as investors seek perceived safe havens such as gilts and U.S. treasuries.
"Due to the broader implications of how Greece delivering a bloody nose to Europe affects other debt-shackled Eurozone countries' 'anti' view of remaining in the Euro, there is likely to be a widespread uncertainty gripping the markets.
"This predicted stock market sell-off and the resulting drop in prices will, of course, create an important buying opportunity, especially for investors with a longer-term perspective.
"With negotiations potentially taking an extended period of time, the uncertainty is likely to be protracted, meaning the sell-off and buying opportunity could also last some time – unlike last week when markets bounced back quickly.
"The buying opportunity will be seen as particularly attractive as much of the Eurozone is in recovering mode."
Last week the deVere CEO stated that by delivering a 'No' outcome, Greece could become another Argentina.
He said: "Greece could become another Venezuela. With Greeks already storming banks, queuing at now increasingly empty ATMs, ever barer supermarket shelves, and petrol stations running out of fuel, Greece is already looking eerily like Argentina in economic terms."
He added that with a 'no' "we can expect the banking system to plunge further into chaos, prices will soar, and there will be a smaller base from which to collect tax revenues, meaning more hardship and less of a state safety net for pensioners and those in need of unemployment and other benefits."