Greece no more credit, page-5

Maybe not. Financial institutions have had plenty of time to remove their exposure to a Grexit - only the ECB remains exposed and Greece is not significant to them. Besides, Greece has no choice other than to accept the ECB's terms - it would be like biting off the hand that feeds it - if Greece exits, the ECB would prefer to let them perish to discourage others from doing the same. June 30 is not the end - it is just when a 1.6b euro payment is due to the ECB - the negotiations can continue unless either Greece declares itself bankrupt (unlikely) or the ECB ejects Greece from the eurozone (more unlikely). Most likely the Greeks will get their referendum and will vote to remain in the eurozone - the market will reflect what the opinion polls say.