GREEK DEFAULT

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Greece won’t pay the International Monetary Fund the 1.5 billion euros it owes Tuesday. A spokesman for Finance Minister Yanis Varoufakis told CNN the payment would not be made. Greece thus becomes the first developed economy to default to the IMF.

Greece won’t pay the International Monetary Fund the 1.5 billion euros it owes Tuesday. A spokesman for Finance Minister Yanis Varoufakis told CNN the payment would not be made. Greece thus becomes the first developed economy to default to the IMF.

The New York Times reports: For many people in Athens, it was time to prepare for an approaching storm. A short walk from Plaka, a line of people waited to withdraw cash from an A.T.M., hours before the official announcement that banks would be closed starting on Monday. Some bank machines in central Athens had run out of money or were out of service, as screens blamed “technical difficulties.” Elsewhere, some people had started hoarding gasoline and groceries. “We don’t know what the new day will bring,” said Katerina Vorreadi, who was among a group of retirees waiting in line outside the National Bank of Greece on Saturday night.

The New York Times reports: For many people in Athens, it was time to prepare for an approaching storm. A short walk from Plaka, a line of people waited to withdraw cash from an A.T.M., hours before the official announcement that banks would be closed starting on Monday. Some bank machines in central Athens had … Read moreThe New York Times reports: For many people in Athens, it was time to prepare for an approaching storm. A short walk from Plaka, a line of people waited to withdraw cash from an A.T.M., hours before the official announcement that banks would be closed starting on Monday. Some bank machines in central Athens had run out of money or were out of service, as screens blamed “technical difficulties.”

Elsewhere, some people had started hoarding gasoline and groceries. “We don’t know what the new day will bring,” said Katerina Vorreadi, who was among a group of retirees waiting in line outside the National Bank of Greece on Saturday night.