Global economy fears as Greece faces bailout

Channel 4 News
"Graham Turner, of GFC Economics, told Channel 4 News: "There is a conflict between, effectively, Greek workers and European banks."Many European banks hold Greek government debt. And if there is a default, then the cost of resolving this crisis passes from the Greek workers to the European banks, effectively."We are all interconnected. That is why bankers and politicians worldwide - even President Obama - are worried.The concern is that the Greek budget deficit could leave a big chunk of the global economy in ruins."