After Greece’s apparent ‘No’ to bailout terms, Germany and France call for a eurozone summit on Greece
There are no explicit provisions in EU rules for summits of eurozone leaders, but they can be held in exceptional circumstances.
U.S. stocks faced their worst day of the year on Monday, with the Dow Jones industrial average plunging 350 points. It was part of a sell-off that spanned three continents after negotiations between Greece and its creditors broke down over the weekend and Athens closed the nation's banks.
Groaning under at least $73 billion in debt, Puerto Rico — which is being called "America's Greece" — is staggering down a path towards default, a scenario that could ripple across cities and states that depend on bonds for building everything from schools to stadiums.
The question is whether investors should get worried or if it's just another date in the calendar that government leaders and creditors will work around.