How bad is the problem?
Greece owes foreign creditors about 280 billion euros, including $242.8 billion to public or quasi-public entities, such as the International Monetary Fund, the European Commission and European Central Bank.
Why have talks broken down?
The so-called Troika of the IMF, ECB and EC are looking for a combination of spending cuts (the most politically sensitive of which are to pensions that function as the Greek equivalent of Social Security) and tax increases.
What did the government do this weekend?
Greece’s anti-austerity Syriza party called for a referendum, hoping voters would back its push to get creditors to back down.
How will the mess affect the markets in Europe and the U.S.?
European markets traded sharply lower on Monday, and the Dow Jones Industrial Average opened nearly 1 percent lower in New York. But the effect may be short-lived.
What happens if Greece leaves the euro, or is forced to leave the euro?
Estimates of how little Greek drachmas may be worth are all over the place, from 340 to the U.S. dollar to as little as 1,000 drachmas to the dollar.
Has the IMF’s austerity program worked so far?
What does this mean for Greek tourism?
Uncertainty overshadows Greek tourism. And the stakes of not interrupting tourism are high indeed.