Greece defaults, sorta (updated)

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From RT:

International Monetary Fund has confirmed it didn’t receive €1.5 billion from Athens that were due by the end of June 30, Brussels time. Greece becomes the first developed country to default on its international obligations.

IMF spokesman Gerry Rice said in a statement that Greece had asked for a repayment extension earlier on Tuesday and that the Fund’s board will consider it “in due course.”

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About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.