Greek Debt

Greece has defaulted on its debt and Greek voters have rejected the terms of an international bailout. Since that weekend vote, the ball has been in Greece’s court to come up with a new proposal its international credits can accept. But today, Greece’s finance minister showed up for an emergency meeting in Brussels empty-handed. Meanwhile Greek banks are running out of cash and face the danger of collapse within days without new aid. Korkut Erturk is a professor of international economics at the University of Utah.