Negotiations between Greece and its European creditors collapsed this week as the country was asked to implement even stricter austerity measures. Greek Prime Minister Alexis Tsipras immediately called for a July 5 referendum on the new proposal which led the Eurogroup to withdraw the bailout package. Greek and international financial markets are spiralling.

In this teleconference, three experts on Greek and international economics discuss the potential collapse of the Greek economy and the implications for the European Union and global economy.