Greek crisis: European leaders scramble for response to referendum no vote

Merkel and Hollande will meet for crisis talks and the ECB faces a crucial decision over its funding lifeline after Greece rejected austerity by 61% to 39%

European leaders were scrambling for a response on Monday after a resounding no from Greek voters in a momentous referendum on austerity which could send the country crashing out of the eurozone.

With Europe's financial markets set to follow Asia's overnight lead by going sharply into the red, German chancellor Angela Merkel was to meet with French leader Francois Hollande in Paris after Greece overwhelmingly rejected international creditors' tough bailout terms.

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