Nightmare scenario if Greece defaults on loans
(AGI) Rome, June 18 - Greece will default on July 1 unless itpays back the 1.6 billion euros it owes, said the InternationalMonetary Fund (IMF). It said it does not intend to grant Athensa grace period. So what will happen then? According to experts,the default will trigger great upheavals across financialmarkets, which cannot be accurately predicted as there is noprecedent. Fears of a "Grexit" will undoubtedly provoke a further runon the banks by Greek savers, which has already begun, andauthorities will be forced to bring in harsh controls onbanking transactions to