- The Greek referendum results showed 60% opposition to austerity measures, but the Greek government claims this was only a rejection of creditor-proposed austerity and not a desire to leave the Eurozone. - If Greece remains in the Eurozone without reforms, other troubled countries may also refuse austerity measures while hoping to maintain Eurozone benefits like ECB support. - For India, there is limited direct exposure to Greece but market volatility could impact some emerging and European markets through hedge fund positions. Structurally, Greece has little effect on India.