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- After a dramatic weekend of twists and turns, Greece looks on track to default on a repayment to the International Monetary Fund due Tuesday.
- That puts the debt-strapped country on the edge of fiscal collapse and raises the chances it could eventually leave the European Union — a “Grexit”.
- Greek Prime Minister Alexis Tsipras announced a referendum on whether to accept terms demanded by its international creditors for this Sunday.
- Banks and the stock market are closed and are expected to remain shut until after the referendum.
- Source: MarketWatch
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