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Tuesday, June 30, 2015

A woman walks by an economic-crisis related graffiti on a wall in Athens on June 14, 2012. (LOUISA GOULIAMAKI/AFP/Getty)

The Quick Fix That Isn't: Why Another Bailout Won't Save Greece

The Greek debt crisis is growing dire and there appears to be no end in sight. More than 170 percent of Greece's GDP is made up of international rescue loans, which were given as bailouts by the International Monetary Fund (IMF), the European Central Bank, and the European Commission to stabilize Greece's finances. These loans didn't save Greece, and over the weekend, Eurozone finance ministers refused to extend the bailout further. Greece also owes one if its creditors, the IMF, a debt of $1.7 billion that is due today. But Finance Minister Yanis Varoufakis announced Tuesday that Greece won't be paying. The big question now is whether Greece will go bankrupt, leave the European Union, or come to an agreement with its lenders in an upcoming July 5th referendum. As economist Daniel Altman sees things, no short-term solution is going to fix the crisis in Greece—including another bailout.

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Today's Takeaways: Fighting Extremism, Uncertain Deadlines, 'Traditional' Marriage

The Takeaway explores the fight against ISIS and Boko Haram, the deadlines for a Greek debt deal and a nuclear deal with Iran, and how marriage has changed in the last few hundred years.