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a sell off but no panic furies in stocks and the euro weakening for a second day on tuesday head of greece's expected default the i. m. f. , athens saying it's cons make a one point six billion year a payment to the fund g. by six p. m. washington time , that's almost a last ditch talks with creditors failed to produce the deal detroit has markets editor mike dolan says the crisis doesn't scare investors away at one stage two things one is the people do still expect some last minute resolution here however unusual however strings and they feel at the moment %HESITATION and the second thing is that it's hard to find direct financial or economic linkages that give you that and a fear of of of %HESITATION clock on %HESITATION financial defaults for %HESITATION corporate stress or even you know %HESITATION international payments problems , attention now turns to greece's weekend referendum on whether to accept the bailout deal prime minister alexis c. press says he'll stand down if there's a yes state that could open the way to a new government more amenable to a deal if greece votes to accept the authority that the europeans are demanding then i think you could have a very big rally in world markets because the simpsons then is that greece will not be forced out of the euro recent days have seen big protests in favor of unknown site but most polls indicate that greeks will say yes on sunday the country's place in the euro probably hangs on that's being trade