Unless something completely unexpected happens, Greece will be in default in about an hour and a half. The IMF has said it will not give Greece a customary 30-day grace period before giving a notice of default .

A referendum on the proposed "austerity" measures is scheduled for next Sunday. Prime Minister Tsipras has hinted that if Greece approves the austerity measures, he may resign. That would be a good thing.

Onward and upward,
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