Wall Street melts down in 2008. Greece announces financial troubles and borrows €110 billion in 2010. It isn't enough, so a second bailout package brings the total loan to €246 billion by 2016. In early 2015, Alexis Tsipras of the radical left Syriza party is sworn in as the new prime minister with a plan to refuse any more loans. On June 28, the Greek government announces bank closures. Two days later, they miss an IMF payment and default on their debt.