Finally after so many drama and controversial statements like its a cold war between Greece and Europe , finally something conclusive came and its a DEFAULT for Greece , It missed $1.7 Billion IMF payment which was due at 30th June 2015 . Greece becomes first developed economy to default in 21st century . Greece joined club with Zimbabwe and Cuba today . However IMF payment does not guaranteed an exit from Euro to Greece , it still has some hope to stay in Eurozone as main decision would be on July 5th , The Referendum day aka The Judgement day for Greece .
The missed payment by Greece is largest in history of IMF which came in existence in World war II to provide currency stability and coordinate with monitory policy
Now what to do after Greece default ?
Nothing much , Market has’nt collapsed nor the Euro so nothing to worry about till 5th July , that day it will be do or die for Greece , if Greece exits from euro then prepare yourself for a major panic in world economy . Today we need to see how asian market reacts when it open mainly China and India .
So wait in markets and stay cautious , Main day is 5th July now
Hope for the best