Counter logic

Imagine that I have three counters X, Y and Z. They are coloured red, white and blue, but not necessarily in this order. One, but only one, of the following statements is true:
X is red
Y is not red
Z is not blue
Can you work out the colours of the counters?
This puzzle was suggested to us by Ems Lord, as part of her wonderful article celebrating the bicentenary of the birth of George Boole.