Germany as well as Chancellor Angela Merkel has always sided with the idea of keeping Greece within Euro zone, however latest unilateral action by Greek government to call a referendum might have soured the mood in Germany too.

Germany economy minister Mr. Gabriel suggested that if Greeks vote no over Sunday's referendum, it would be no to Euro.

German Chancellor Angela Merkel has taken similar hard stance towards Greece.

She suggested,

No one will try to influence the decisions from outside but it is not the aid package that is at stake here but the future of Euro.

She further added that creditors offer were very generous and Greece now needs to compromise, a will which has been lacking so far.

Such comments point out that there could be very serious consequences if Greeks chose to vote No, next Sunday.

We are likely to have another big Monday next week, the question is which way - UP OR DOWN?