Steven Bouchey financial column: It’s all Greek to me
Greece has consumed the headlines recently after missing a $1.8 billion loan payment to the International Monetary Fund (IMF), becoming the first developed country to default on an IMF loan and last weekend with its historic “No” vote to live by more austerity measures being pushed on them by its creditors. Greece owes another almost $4 billion payment to the European Central Bank (ECB) on July 20 or funds for its banks will be cut off. Greece is playing a game of chicken with its creditors hoping for a better bailout package and countries like Germany don’t want any part of it, the world is watching what happens next.
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