Singapore says impact of Greece 'No' vote negligible

Asian financial centre Singapore's direct exposure to debt-ridden Greece is "negligible", the city-state's central bank said Monday after Greek voters' rejected tough austerity demands from creditors, pushing their country closer to a eurozone exit.

"Singapore's domestic money and foreign exchange markets continue to function in an orderly fashion," the Monetary Authority of Singapore (MAS) said in a statement.

"The direct exposure of our economy and banking system to Greece is negligible, accounting for just under 0.2 percent of total trade and 0.1 percent of total banking system assets."

MAS said however there was "uncertainty" about the broader implications of the Greek crisis and that it was "closely monitoring developments in the eurozone economy and global financial markets, and their potential impact on domestic markets and the economy".

Greek voters on Sunday overwhelmingly rejected bailout terms demanded by international creditors, and analysts said this could see the country crash out of the eurozone currency union.

The Greek vote sent stock markets across Asia tumbling on Monday.

With capital controls shuttering banks and rationing euros from ATMs, Greece urgently needs a cash injection from the European Central Bank (ECB) to prevent its economy grinding to a halt.

Failing that, it could be forced to print IOUs or return to the drachma -- effectively heralding a Greece exit from the euro.

Eurozone leaders were due to hold an emergency summit on Tuesday.