So is it back to the drachma?

Mark Matassa Jun 28, 2025

Feb 6, 2018

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                <h1>So is it back to the drachma?</h1>
                <h2><p>Greece failed to make an important debt payment to the International Monetary Fund on Tuesday, raising fears that without some miraculous save Greece may be kicked out of the European Union and lose the right to share the euro currency with 18 other nations. E.U. officials denied Greece’s</p></h2>
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               <p>By <a href="/author/mmatassa-mac-com/">Mark Matassa</a></p> 
              <p><time datetime="2025-02-04T05:00:00-08:00">Feb 6, 2018</time></p>
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            <figure class="kg-card kg-image-card"><img src="https://dev.cascadepbs.org/content/images/sites/default/files/images/article/gallery/252px-drachmas.jpg" class="kg-image" alt="Greek" loading="lazy" width="252" height="184"></figure><p>Greece failed to make an important debt payment to the International Monetary Fund on Tuesday, raising fears that without some miraculous save Greece may be <a href="http://www.washingtonpost.com/world/europe/european-leaders-seek-last-ditch-offer-to-bring-greece-from-brink-of-default/2015/06/30/960aded8-1ea2-11e5-a135-935065bc30d0_story.html?hpid=z1&ref=dev.cascadepbs.org">kicked out of the European Union</a> and lose the right to share the euro currency with 18 other nations. E.U. officials denied Greece’s request for a financial bailout, reports <em>The Washington Post</em>. But some see a shred of hope in the fact that the missed payment is not being called a default, but an account in arrears.</p><p><em>The New York Times</em> offers a simple guide to the situation, <a href="http://www.nytimes.com/interactive/2015/business/international/greece-debt-crisis-euro.html?ref=dev.cascadepbs.org">“Greece’s debt crisis explained.”</a></p>
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Greece failed to make an important debt payment to the International Monetary Fund on Tuesday, raising fears that without some miraculous save Greece may be kicked out of the European Union and lose the right to share the euro currency with 18 other nations. E.U. officials denied Greece’s request for a financial bailout, reports The Washington Post. But some see a shred of hope in the fact that the missed payment is not being called a default, but an account in arrears.

The New York Times offers a simple guide to the situation, “Greece’s debt crisis explained.”