Today, Greece became the first developed country to default on an IMF loan. What happens next is uncertain, but the man who now oversees Greece’s economy warned years ago that a default could ripple across the globe.
Greek debt crisis worsens
While hundreds of world leaders are in New York this week at the United Nations, Greece’s prime minister, George Panpandreou will be conspicuously absent. Yanis Varoufakis, professor of economic theory at the University of Athens, has more.