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Business Matters: Greek Debt Crisis: IMF Payment Missed as Bailout Expires

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Greek Debt Crisis: IMF Payment Missed as Bailout Expires

01/07/2015

BBC World Service - Business Matters, Greek Debt Crisis: IMF Payment Missed as Bailout Expires

Greece has missed the deadline for a 1.6 billion euro debt payment to the IMF

As Greece misses a deadline to pay the IMF 1.6 billion euros, its creditors also decline Greece's request for a bailout extension and a new bailout programme.

Greece has missed the deadline for a 1.6 billion euro debt payment to the IMF. Its European creditors have also declined both an extension of the existing bailout programme, or the creation of a new bailout programme, requested by Athens out of the blue on Tuesday.

In many American cities, having a criminal record can be an active barrier to employment. There is a great deal of agonising about how high the prison population is in US at the moment. We hear from Marketplace's senior editor Paddy Hirsch about how incarceration can put a limit on economic growth.

And the BBC's Julia Carneiro speaks to two veterans of Brazilian music, Caetano Veloso and Gilberto Gil, who are about to go on tour - Two Friends, One Century of Music - celebrating their 50-year-careers.

Our two guests on alternate sides of the Pacific - Paddy Hirsch, senior editor at Marketplace in LA and David Moser, Academic Director at the CET Chinese Studies programme at Beijing Capital Normal University.

(Photo: People stand in a queue to use an ATM outside a closed bank in Greece. Credit: AP)

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