They have defaulted.
What does that mean?
They have passed an agreed time and not paid the agreed amount. Nothing too strange about that. However, it has taken a long time to get to this point.
There is no fighting on the streets, but then I did not predict that would happen within minutes of the default, merely that without pay for civil servants, [Police & Military] the security of Greek society would weaken considerably.
Funnily enough there is still another date [two in fact] to watch before anything really drastic happens. 1) July 5th Sunday's referendum and then 2) July 20th when Greece must repay a bond to the European Central Bank.
This saga is far from over...