Greece became the first developed country to default on its debt payment to the International Monetary Fund (IMF) after it missed a 1.5 billion euro ($1.7 billion) payment on Tuesday, June 30. The cash-strapped country made last-ditch efforts to find a compromise with official EU leader but failed to arrive at an agreement. Assistance from the European Central Bank (ECB) also expired on Tuesday. With the default, Greece has pushed into uncharted waters in its 5-year-old bailout with many speculating a possible exit from the eurozone.
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