Eurozone finance ministers said during a Euro-group meeting in Brussels on Monday that there is little risk of the euro falling apart in the wake of the No vote on Italy's reforms referendum.

"I'm not going to comment on the 'what if' situation. Again I'm confident that there will be no such crisis and I'm confident that we have the means to resist any kind of political shock in Europe," said Pierre Moscovici, European Commissioner, Economic & Financial Affairs, Taxation & Customs.

"The political consequences for the government are yet to be seen. You have to wait to see what happens today, and what the president then decides. So I can't really say anything about that. And as I said, Italy is a strong economy, is one of the largest economies in the euro zone. It is a country with strong institutions. So there will be a next government whatever happens and they will have to deal with the economic situation in Italy," said Jeroen Dijsselbloem, President of Eurogroup.