On the Sean Hannity radio show, the host explains, "Greece is a smaller country than the United States, but these are huge dollars we're talking about. The previous bailout between Greece and its European creditors expires [today], and the reason they are not extending this is because Greece, led by a left-wing Prime Minister, unwilling to undertake the painful but necessary reforms in the forms of tax increases, spending cuts, including pensions... Talks collapsed over the weekend. The Prime Minister announced he would hold a referendum on July 5 to ask the people of Greece whether they would accede to the austerity demands of the nation's creditors"
"Well, jeez, who holds our debt? Oh the Chinese, good point, communist Chinese that don't particularly like us."