Greek Debt Crisis

With the risk of a Greek default hanging in the air, why would some bond holders of Greek debt vote against a reduction of the country's debt?

The deadline for Greece's bailout is tomorrow. But if bondholders still hold out, more delays are on the horizon and the possibility of a Greek default remains.

There is a possibility that Greece's private creditors won't accept big losses on their investments by a deadline tomorrow night.

Yesterday, Standard & Poor's downgraded Greece's credit rating to "selective default." It's a move that everyone expected, but what's the difference between that and the messy default it was trying to avoid?

Hans Humes is one of the private creditors who is now taking a 74 percent haircut on the Greek debt he owns. He explains what that means, and why he invested.

After months of wrangling and a marathon meeting yesterday, European finance ministers have agreed on a $170 billion bailout deal for Greece. It'll save the country from a messy default, but the terms of the deal are painful.

After months of wrangling and a marathon meeting yesterday, European finance ministers have agreed on a $170 billion plus bailout for Greece. That'll save the country from a messy default, but stability can be hard to get too excited about, for Greeks and banks that owned Greek bonds -- especially with the harsh terms of the agreement.

European finance ministers are meeting in Brussels today. They're expected to finally approve a new bailout loan package for Greece. The price tag: $170 billion.

The second bailout deal for Greece seems imminent, but it still won't bring a total end to the debt crisis.

As Greece faces yet another deadline to adopt more austerity measures and reforms, some Greeks have turned to satire and song to express their frustration and fury over the country's continued economic misery.