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On Friday, April 24, the finance ministers of Europe once again met to discuss the fate of Greece’s bailout program. Although no definitive course of action was expected to come out of this meeting, it was yet another chance to assess the potential consequences if indeed the Greek government defaults on its loans. The four-month extension deal reached in February expires on June 30.
Will they choose to ditch the euro? Will the rest of their euro area partners decide to cut off their emergency liquidity assistance? And, most importantly, how would all of this effect the rest of the world economy?
Read on to find out more about this developing crisis and what you can expect over the coming weeks and months.