My Way News - IMF: Greece misses $1.8 billion loan payment
My Way News reports: "The International Monetary Fund says Greece missed a $1.8 billion debt
payment Tuesday, becoming the first developed country to default on a
loan to the lending agency. [...] Greek Prime Minister Alexis Tsipras has called a referendum Sunday in which Greek voters can decide whether to approve a deal proposed by the country's creditors. A 'No' vote would likely force Greece to stop using the euro currency."
Comment: Well, that's that then. It's a virtual certainty that the "No" vote will win and Greece will exit the eurozone. The real question is, will this lead to the unraveling of the common currency, or will the EU be able to contain the damage? We don't know the answer to that question yet, but we do know that Europe's financial markets are about to become very turbulent.
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