Greece - the day after.

Al the lurid descriptions of chaos if Greece voted 'NO' have failed to describe the well - calm that descended on the country. Varoufakis is gone as Finance Minister of Greece and that reduced the decibel by itself.

But, the problems remain. Greece has to either cut spending or earn more. It is that simple. Negotiations might resume but the basic equation does not change. Socialism in Greece failed and they ran out of European money. The EU is proud that its prescriptions have worked in Spain, Portugal and Ireland - if you call reducing living standards a success.

It all depends on Greece now. Contrary to opinions circulated, the NO vote did not increase their clout at negotiating. Greece still can not pay its bills and its debt can not be paid back. Where do they go from there? Can facts be papered over? I highly doubt it.