Greece confirms it will not pay International Monetary Fund by deadline
Greek Finance Minister Yanis Varoufakis has confirmed that Greece will not pay back the 1.6 billion euros it owes to the International Monetary Fund by this evening's deadline. While the IMF does not use the term "default," the missed payment is effectively the equivalent. Greece is the IMF's biggest debtor, owing a total of 5.5 billion euros by the end of the year.
On Monday, Greek leaders closed the country's banks for six days and imposed limits on ATM withdrawals to prevent bank failures after talks to extend an international bailout collapsed. Prime Minister Alexis Tsipras has also called a July 5 referendum that will let Greeks vote on whether to accept the harsh financial reforms creditors are demanding. Standard & Poor's estimates there's a 50 percent chance the country will leave the eurozone.
Sign up for Today's Best Articles in your inbox
A free daily email with the biggest news stories of the day – and the best features from TheWeek.com
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
Create an account with the same email registered to your subscription to unlock access.
Jeva Lange was the executive editor at TheWeek.com. She formerly served as The Week's deputy editor and culture critic. She is also a contributor to Screen Slate, and her writing has appeared in The New York Daily News, The Awl, Vice, and Gothamist, among other publications. Jeva lives in New York City. Follow her on Twitter.
-
The CIA is openly recruiting foreign spies in other countries
In the Spotlight The agency is posting instructions in multiple languages for people to contact them
By Justin Klawans, The Week US Published
-
'People want to understand food — but only to a point'
Instant Opinion Opinion, comment and editorials of the day
By Justin Klawans, The Week US Published
-
How do cash-back apps work and are they worth it?
The Explainer Put a percentage of the amount you spend back in your pocket
By Becca Stanek, The Week US Published
-
Nobody seems surprised Wagner's Prigozhin died under suspicious circumstances
Speed Read
By Peter Weber Published
-
Western mountain climbers allegedly left Pakistani porter to die on K2
Speed Read
By Justin Klawans Published
-
'Circular saw blades' divide controversial Rio Grande buoys installed by Texas governor
Speed Read
By Peter Weber Published
-
Los Angeles city workers stage 1-day walkout over labor conditions
Speed Read
By Justin Klawans Published
-
Mega Millions jackpot climbs to an estimated $1.55 billion
Speed Read
By Catherine Garcia Published
-
Bangladesh dealing with worst dengue fever outbreak on record
Speed Read
By Catherine Garcia Published
-
Glacial outburst flooding in Juneau destroys homes
Speed Read
By Catherine Garcia Published
-
Scotland seeking 'monster hunters' to search for fabled Loch Ness creature
Speed Read
By Justin Klawans Published