Worries of Greek Default Escalate as Financial Leaders Hold Talks

The world's financial leaders see a number of threats facing the global economy as fears remain that Greece will default on its debt. While finance ministers and central bank governors held three days of meetings in Washington focused on working toward ‘a more robust, balanced and job-rich economy,’ Greek Finance Minister Yanis Varoufakis held talks with other finance officials in regard to resolving Athens' debt crisis. IMF chief Christine Lagarde called her talks with him 'constructive.' European Central Bank head Mario Draghi said a resolution between Greece and its creditors is urgent, as a Greek default would put the global economy into 'unchartered waters.' However, French Finance Minister Michel Sapin said he thought any damage would be confined to Greece.