Greek Foreign Minister Nikos Kotzias ruled out his country's exit from the EU and called for calm after Greek voters rejected bailout terms of international creditors.
The euro rose after Greece's Finance Minister Yanis Varoufakis announced his shock resignation, just hours after the cash-strapped nation rejected creditors' austerity demands in a landmark weekend referendum.
Yanis Varoufakis, Greece's finance minister resigned despite the government having secured a resounding victory in a weekend referendum.
More than 61 percent of Greek voters rejected fresh austerity demands by the country's EU-IMF creditors in a historic referendum.
Greece has moved a step closer towards a eurozone exit as early results from a crucial bailout referendum suggested Greeks had overwhelmingly rejected creditors' demands for more austerity.
Greece will have to introduce another currency if it votes 'No' in Sunday's referendum on its potential bailout terms, European Parliament president Martin Schulz said.
Greek banks have enough liquidity up to their reopening as expected early next week after the country's bailout referendum at the weekend.
Greece needs 50 billion euros over the next three years, including 36 billion euros more from EU lenders, to stabilize its finances even under existing creditor plans.
Greek Prime Minister Alexis Tsipras vowed to press ahead with a controversial bailout referendum as European leaders ruled out any fresh debt offer before Sunday's vote.
The International Monetary Fund said that allowing a borrower to delay repayment, as Greece has requested, is generally ineffective in helping a country overcome crisis.
Eurozone finance ministers declined to extend Greece's bailout Tuesday hours before its expiry and a possible IMF default.
The European Commission has pledged to send financial aid and experts to Hungary to help it cope with a surge in illegal immigration this year.
Chancellor Angela Merkel said that Germany won't enter into new aid negotiations with Athens before Greece's weekend referendum.
Nobody in the halls of the International Monetary Fund in Washington has any illusion: Greece is going to default, delivering a new blow to the global crisis bank's credibility.
It has already been dubbed "Black Monday" -- jittery housewives, shoppers and business owners queued in vain at cash machines in Athens, where the country awoke to capital controls and shuttered banks.
Italy's finance minister played down the threat of Italy being hit by the fallout from market instability linked to the Greek crisis.
The Greek government said it had called an emergency gathering of its systemic stability council, as speculation mounted of capital controls being imposed and increasing signs of a bank run.
Christine Lagarde has said she is ready to consider a second term as head of the International Monetary Fund in an interview with a French magazine to be published.
Crisis-hit Greece is in the "final stretch" of negotiations with creditors and could reach agreement shortly, Finance Minister Yanis Varoufakis indicated.
The IMF said that it would take part in a meeting between Ukraine and its private bondholders next week, amid rising pressure on creditors to reduce the debt.