When recession exposed the glorified pyramid scheme that was Greek government budgeting in 2009, fear of a global economic meltdown on a par with the collapse on Wall Street a year earlier rippled through international markets.
The budget crisis was eased, but not before a short-lived panic in the financial markets. Now, as Greece once again peers over the precipice of expulsion from the Eurozone common currency club, millions worldwide are wondering what consequences lie ahead for other countries and investors if, as now appears likely, Athens defaults on its bailout debts Tuesday.
Early Tuesday, Greek Finance Minister Yanis Varoufakis confirmed the country will not make its payment due later to the International Monetary Fund, the Associated Press reported.