Bailout Money Goes to Greece, Only to Flow Out Again

FRANKFURT — The Greek businessman was nervous as he carried a suitcase stuffed with cash through passport control at the Athens airport a few months ago. But the distracted and overworked customs officials waved him through.

Greece debt crisis: Global stock markets slide

Stock markets in Europe and the US have fallen after Greece closed its banks and restricted cash withdrawals.

Greece may need to default on debts as IMF deadline looms, warns Goldman

Greece may have to default on its debts and impose curbs on bank withdrawals before reaching a deal with its creditors, according to Goldman Sachs, as a crucial payment deadline approaches.

Greece Agrees to Harsh New Spending Cuts as Lenders Ratchet Up the Pressure

ATHENS — Pushed against the wall by its foreign lenders, the Greek government agreed on Sunday to drastic new spending cuts but failed to complete an arrangement that would unlock the financing the country needs to prevent default. It agreed instead to resume talks on Monday.