As Greece votes, Europe holds its breath

"There's been a feeling in Greece that eurozone leaders are bluffing and will do anything to stop Greece from leaving. I'm not sure that is any longer the case," says Simon Tilford of the CER. "A Greek departure from the common currency would certainly dispel the myth of irreversibility of the eurozone. ... The Greeks are being asked to do the impossible, in their austerity reforms ... Capping public spending in a severe recession the terms are mathematically impossible."