Greece Declared in Default
Creditors officially declared Greece in default. The eurozone's rescue fund said that it reserved the right to call in 130.9bn euros in debt ahead of schedule after Athens defaulted this week on an International Monetary Fund (IMF) loan, Al Jazeera reports.
"This event of default is cause for deep concern," the EFSF's chief executive Klaus Regling said adding that this will cause severe consequences for the economy of Greece.
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