A deeper dive into the Greece debt crisis

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Jun 30, 2015

Listen • 10:25

A deeper dive into the Greece debt crisis

Greece’s financial turmoil continues. Greek banks are closed and it is anticipated that Greece will not pay the $1.73 billion due today to the International Monetary Fund, making it the biggest debt default by a country ever.

Pro-euro protesters hold a banner reading ''YES" during a demonstration in front of the parliament in Athens on June 30, 2015. European leaders want to "sink" Greece's ruling Syriza party to block the rise of other far-left, anti-austerity parties such as Podemos in Spain, Greece's Labour Minister Panos Skourletis said Tuesday. AFP PHOTO / ARIS MESSINIS (Photo credit should read ARIS MESSINIS/AFP/Getty Images)

Greece’s financial turmoil continues. Greek banks are closed and it is anticipated that Greece will not pay the $1.73 billion due today to the International Monetary Fund, making it the biggest debt default by a country ever.

At this time, Greece owes $352.7 billion to other European countries. If Greece continues to go deeper into financial crisis, it could be the first country to leave the eurozone. While Greek banks are expected to stay shut until July 7th, what does Greece’s crisis mean for the world economy?