Analytics, EU – Baltic States, Financial Services, Latvia, Legislation, Loan

"The stability of the euro area is not in question," said Dombrovskis. "We have everything we need to manage the situation."

The final tally released early Monday showed 61.31% of Greeks rejecting creditor demands for further austerity in return for more bailout funds, leaving Greece's eurozone partners scrambling to respond and stock markets in retreat.

"The place of Greece is and remains in Europe. All sides need to act responsibly," Dombrovskis stressed. "To negotiate now, the European Commission needs a mandate from the Eurogroup."

Prime Minister of Latvia Laimdota Straujuma (Unity) expressed her viewpoint about Greece today, saying that It is hard to say what will happen in the wake of the referendum, whether the country will quit the eurozone or receive a new loan.

The impact of the current situation on the stability and control mechanisms in the eurozone has to be analyzed so as to prevent such problems from occurring in other eurozone countries in the future, said the premier. Budgetary control and borrowing procedures could be tightened in the eurozone.

Straujuma has the impression that the people of Greece were not explained what they were voting on.

"What happens now is hard to predict. The European Council will be meeting tomorrow night [to be attended by Straujuma]. Hopefully Greece will propose something by the time the European Council convenes," she said.

"I personally see no mechanism how Greek banks could reopen tomorrow or the day after tomorrow, and how the situation could be rectified," said Straujuma. "Clearly, we cannot leave the Greek people on the brink of a humanitarian disaster. Probably some kind of support for hospitals or other social matters will have to be provided."

It is difficult to predict whether Greece will leave the euro area or take a new loan, added Straujuma. There are no other options, she said, adding that the process of applying for, and receiving, a new loan would take a very long time.

The Eurogroup released a statement saying it expected fresh reform proposals from the Greek government in talks on Tuesday.

The ministers will meet at 11 a.m. GMT (2 p.m. Latvia time) on Tuesday, hours before leaders from the eurozone nations hold an extraordinary summit to decide the way forward after the referendum.

As reported, 61.31% of the Greek voters said "no" to the international aid. 38.69% voted "yes".