It's official — Greece will not be paying IMF the 1.6 billion Euros it owes, giving Europe a jitter it hasn't ever confronted before. Undoubtedly, Greek leaders believe Europe will eventually rescue it, and the referendum planned for Sunday will, willy-nilly, keep them within the Eurozone. Market watchers have forewarned a tumble in markets should Greece decline payment, as it has, and they predict more of a fall should Greece exit the European Union, but chances are the latter might not happen. The referendum in Greece on Sunday may yet see people pick the Euro over an independent currency.
The question is — can a similar situation happen to India one day?