NEW YORK (TheStreet) -- Greece has reached a tipping point. Talks between the country and its creditors failed Friday, leading the country to effectively default on 1.5 billion euros it owed the International Monetary Fund. Greece's banking system and financial market have been closed for the week, and capital controls put in place. Despite frantic attempts to reach a solution, Greece's future now depends on a referendum in which voters will choose between acceding to international demands for reforms in exchange for bailout loans or rejecting them.
Everything You Need To Know About Greece Right Now
twocents@thestreet.com (Ati Ranjan), The Street
Fri, 07/03/2015 - 7:11am
Topics: yes no yes no york thestreet greece international monetary fund european central bank european commission safe high-yield dividend stocks times volatility uncertainty while syriza commendable greek recovery continued drive achieve surplus america best stock ideas third quarter in may points vat considerable greek adjustments focus long-term recovery greece ministry finance goldman sachs stock picks rising interest rates in february ela december run-like situation exposure eurozone creditors greek monetary financial institutions brussels greek loan facility scrutinizing impact reforms they make things worse source special best materials stocks s&p aranca the the greece europe eu bank syriza commission ecb imf read imf eurostat greek so sources eurostat greece surekha nagabhushan debt government growth country sustainable sides exit referendum deficit market troika measures ability current labor target liquidity bailout political vote levels fiscal reach return citizens proposal system expenditure ratio capital global impasse controls bonds work reaching stated eventual remain majority friday austerity power primary report remains drachma positive views quick stability loans attempts ramifications agreement payments outcome billion possibility promises prolonged deposit flight event cuts cost substantially proposed revenue article assistance people growing ceiling
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