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Greece defaults

Greece defaults

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Banks are closed, pensioners line up for their euros and a referendum looms after Greece failed to make a loan repayment to the IMF - PowerPoint PPT Presentation

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Greece defaults

A pensioner reacts as she obtains a priority ticket to get part of her pension outside a National Bank branch in Athens, Greece, July 1, 2015. REUTERS/Jean-Paul Pelissier

Father Theoklitos, 77, a Greek Orthodox priest, waits along with dozens of other pensioners outside an Alpha Bank branch in Athens, Greece, July 1, 2015. REUTERS/Yannis Behrakis

A pensioner is squeezed as she waits outside a National Bank branch to receive part of her pension in Athens, Greece July 1, 2015. REUTERS/Alkis Konstantinidis

Pensioners wait outside a National Bank branch to receive part of their pensions in the northern city of Thessaloniki, Greece, July 1, 2015. REUTERS/Alexandros Avramidis

Pro-Euro protesters hold Greek national flags during a pro-Euro rally in front of the parliament building, in Athens, Greece, June 30, 2015. REUTERS/Yannis Behrakis

Employees of the Ministry of Finance and National Economy stand by a banner unfolded from a balcony of the Finance Ministry in Athens, Greece, July 1, 2015. REUTERS/Jean-Paul Pelissier

Anti-austerity protesters burn a euro note during a demonstration outside the European Union (EU) offices in Athens, Greece June 28, 2015. REUTERS/Alkis Konstantinidis

Greek riot police officers take position in front of the Bank of Greece during demonstrations in Athens, Greece, June 30, 2015. The missed payment, the largest in the Fund's history, is equivalent to a default, in that both imply a breach of Athens' obligations. REUTERS/Yannis Behrakis

Pensioners waiting outside a closed National Bank branch and hoping to get their pensions, argue with a bank employee (L) in Iraklio on the island of Crete, Greece June 29, 2015. IMF spokesman Gerry Rice said Greece can now only receive further IMF funding once the arrears are cleared. REUTERS/Stefanos Rapanis

Protesters wave a "Estelada" (Catalonian separatist flag) (R) and a Greek flag in front of the parliament building during an anti-austerity rally in Athens, Greece, June 29, 2015. REUTERS/Marko Djurica

A woman (R) holds cash after completing a transaction at an ATM outside a National Bank branch in Athens, Greece June 29, 2015. REUTERS/Alkis Konstantinidis

Riot policemen stand guard next to a small flag with the word "Yes" in Greek during a rally in front of the parliament building in Athens, Greece, June 30, 2015. REUTERS/Marko Djurica

Pensioners hold onto the door of a branch of the National Bank of Greece hoping to get their pensions, in Athens, Greece June 29, 2015. REUTERS/Yannis Behrakis

Reuters / Tuesday, June 30, 2015Protesters wave Greek and EU flags during a pro-Euro rally in front of the parliament building, in Athens, Greece, June 30, 2015. REUTERS/Yannis Behrakis

A security worker brings money to a National Bank branch in Athens, Greece June 28, 2015. REUTERS/Marko Djurica

Pro-Euro protestors shout slogans during a rally in front of the parliament building, in Athens, Greece, June 30, 2015. REUTERS/Marko Djurica

riot police officer stands guard in front of the parliament building during an anti-austerity rally in Athens, Greece, June 29, 2015. REUTERS/Marko Djurica

Protesters shelter from rain under a European-Union flag as dark clouds fill the sky during a pro-Euro rally on Constitution (Syntagma) square, in front of the parliament building, in Athens, Greece, June 30, 2015. REUTERS/Alkis Konstantinidis

Pro-Euro demonstrators shout slogans as they attend a rally in front of the parliament building, in Athens, Greece, June 30, 2015. REUTERS/Christian Hartmann

A bank manager explains the situation to pensioners waiting outside a branch of the National Bank of Greece hoping to get their pensions, in Thessaloniki, Greece June 29, 2015. REUTERS/Alexandros Avramidis

A man pushes a trolley with bottles of drinking water for sale on a deserted street during demonstrations in Athens, Greece, June 30, 2015. REUTERS/Yannis Behrakis

People stand in front of a closed Alpha Bank branch during a pro-Euro rally on Constitution (Syntagma) square, in front of the parliament building, in Athens, Greece, June 30, 2015. REUTERS/Alkis Konstantinidis

A man withdraws sixty Euros, the maximum amount allowed after the imposed capital controls in Greek banks, at a National Bank of Greece ATM in Piraeus port near Athens, Greece June 30, 2015. REUTERS/Yannis Behrakis

Protesters attend an anti-austerity rally in front of the parliament building in Athens, Greece, June 29, 2015. REUTERS/Marko Djurica

protester holds a placard with the word "No" as another kneels to pay his respect in front of a Greek flag during an anti-austerity rally in Athens, Greece, June 29, 2015. REUTERS/Yannis Behrakis

Greek Finance Minister Yanis Varoufakis (C) and head negotiator with Greece's lenders Euclid Tsakalotos (L) arrive at Prime Minister Alexis Tsipras' office in Athens, Greece June 28, 2015. REUTERS/Marko Djurica

Pensioners line-up outside a branch of the National Bank of Greece hoping to get their pensions, in Athens, Greece June 29, 2015. Greece closed its banks and imposed capital controls on Sunday to check the growing strains on its crippled financial system, bringing the prospect of being forced out of the euro into plain sight. REUTERS/Yannis Behrakis

Greek presidential guards march over a slogan reading "No to blackmail" as they conduct their ceremonial march towards the Tomb of the Unknown Soldier in Athens, Greece June 29, 2015. REUTERS/Alkis Konstantinidis

A woman pulling a shopping cart reacts outside a closed Eurobank branch in Athens June 29, 2015. REUTERS/Alkis Konstantinidis