Prime Minister John Key says the Greek situation underlined his view that the biggest risk to New Zealand's economic growth came from overseas markets.
"The domestic stimulus is still strong - Christchurch rebuild, Auckland housing issues, just generally, tourism across the country has been very, very strong - so I've always thought the biggest risk is international and this is a factor.
"The only good news part of the story is that a fall out of Greece from Euro would have been much more significant a few years ago than it is today. But we are not immune from it, the Dow Jones industrial index was down nearly 2 per cent over night...the Kiwi is continuing its slide."
Key said it was possible the Greek developments could have "a little" impact on commodity prices, including dairy.
"Although the negative news in dairy is quite factored in. I mean, if you talk to Fonterra they'll probably tell you they see potentially a little bit more bad news for a few months, but overall they think they are getting near the [price] bottom."