The situation in Greece is deteriorating this morning, with eurozone leadership unable to come to a decision on a second bailout, which has now been pushed back to July.
Protests are ongoing in Athens, where leaders are trying to come to a deal on a second round of austerity measures, including privatizations and budget cuts.
The longer they take, however, the more public support swells against them, and greater the potential for Central European states to say no to a second bailout.
If no second bailout comes, Greece will likely be unable to pay its bills, and will default on its debt.
Read more: http://www.businessinsider.com/greece-default-contagion-2011-6#ixzz1PMthXrRA
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