Greek Finance Minister Yanis Varoufakis may have been joking when he tweeted about Greece adopting bitcoin, but some financial technology geeks say an asset-backed digital currency could be a solution to the country's cash crisis.
Oil prices bounced from three-week lows in choppy trade on Tuesday as investors awaited a Greek debt default, shying away from riskier assets and putting benchmark North Sea Brent crude on course for a second month of losses.
While the moment of truth for a Greek default is just hours away, Greek Prime Minister Alexis Tsipras says that the European Union wouldn't dare allow a Greek Exit from the Eurozone. Crude oil prices are also getting some support from that fact that the self-imposed dead line with the p5+1 will miss its deadline.
Crude futures hit 3-week lows on Monday as Greece shut its banks and imposed capital controls, causing widespread risk aversion, while Iran looked likely to extend nuclear negotiations with the West to export more of its oil into an oversupplied market.