Greece to default debt

June 30,2015 (LBO) – A senior government official of Greece has declared that Greece will not honor loan installment repayment of USD 1.8 falls due on Tuesday, media reports say.

Analysts say this brings Greece a step closer to departure from Eurozone.

Leaving the Eurozone is highly complicated, as the agreement that brought nations together to use single currency does not provide a clear path for departure.

People in the know say, in fact the whole agreement was made with an aim of departures not plausible.

Asian markets reacted sharply on Monday showed some marginal recovery in early Tuesday trading.