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TOKYO (AP) — Asian shares mostly fell Monday after Greece's voters vehemently rejected conditions set by its international creditors, deepening doubts over their future in the 19-nation eurozone. But China's benchmark rebounded from heavy losses last week.
European leaders were scrambling for a response Monday after a resounding "No" from Greek voters in a momentous referendum on austerity which could send the country crashing out of the eurozone. German Chancellor Angela Merkel was to meet with French leader Francois Hollande in Paris after Greece overwhelmingly rejected international creditors' tough bailout terms Sunday. The pair spoke by telephone late Sunday, declaring the decision must "be respected" and calling for an emergency eurozone summit which European Union president Donald Tusk said would be held on Tuesday.
Asian stocks mostly fell Monday after Greek voters rejected more austerity demands from creditors, fuelling fears the country will crash out of the eurozone, but the euro recovered from initial losses as dealers wait for European leaders' next move.