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Why the world is watching Greece

- Greece missed its $1.7 billion debt repayment to the International Monetary Fund, becoming the first developed country to default. Here's a look at some of the fallout. ()

- Greece missed its $1.7 billion debt repayment to the International Monetary Fund, becoming the first developed country to default. Here's a look at some of the fallout. ()

Why the world is watching Greece (0:47)

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