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.
Greeks rioted over the weekend, burning dozens of buildings in protest against budget cuts that are the latest condition for a $170 billion bailout from the European Union and the International Monetary Fund.
Greeks are striking again today to protest deep cuts the government wants to make in order to get more bailout money. But even the most recent austerity deal Greece proposed might not be enough.