Greece Risk Out of The Eurozone; As It failed To Pay IMF

Tuesday the 30th was the deadline given to Greece by the international monetary fund (IMF) to pay debt, the sum of 1.6billion euros being lend to Greece as it faces financial crisis.


The country could not meet deadline yesterday and that may lead to the country's out of the eurozone.

What do "euro-zone" mean?

Becoming the first developed country to default on a loan to the lending agency.

Greece will now be cut off from access to IMF resources until the payment is made.
  

As the financial crisis gets worsen, thousands of protesters rallied on Tuesday, 30th June, demonstrating in front of parliament building in Athens asking in support of further bail out deal from international creditors but where turned down by prime minister Tsipras Alexis initially, leaving Greece on the brink of default.

The move came hours after the country made a desperate attempt Tuesday to halt its plunge into economic chaos by requesting a new European bailout.

Greece asked for a two-year bailout from Europe, its third in six years. The bankrupt country is reported to be asking for 29 billion euros ($32 billion).

Finance ministers discussed the request by phone and agreed to hold another call Wednesday, when Greece is expected to provide more details.

With all these going on banks still remains shut down till now and minimal account withdrawel remains around 60euros per day.