Three reasons to worry about Greece – and what to do to protect your wealth

With the Greek crisis gripping Europe, it's time to take action to protect your portfolio. John Stepek explains how.

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It's been a busy week for Greece.It's become the first developed nation ever to default on the International Monetary Fund, it's arranging a complicated referendum for Sunday, and it's flip-flopping over whether or not to do a deal with creditors before then. As Merryn notes, the blame for this mess ultimately lies with the hubris of the European project's architects, but there's little to do about that right now. The best outcome for Greece is one that enables it to return to growth and some sort of future.

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John Stepek

John Stepek is a senior reporter at Bloomberg News and a former editor of MoneyWeek magazine. He graduated from Strathclyde University with a degree in psychology in 1996 and has always been fascinated by the gap between the way the market works in theory and the way it works in practice, and by how our deep-rooted instincts work against our best interests as investors.

He started out in journalism by writing articles about the specific business challenges facing family firms. In 2003, he took a job on the finance desk of Teletext, where he spent two years covering the markets and breaking financial news.

His work has been published in Families in Business, Shares magazine, Spear's Magazine, The Sunday Times, and The Spectator among others. He has also appeared as an expert commentator on BBC Radio 4's Today programme, BBC Radio Scotland, Newsnight, Daily Politics and Bloomberg. His first book, on contrarian investing, The Sceptical Investor, was released in March 2019. You can follow John on Twitter at @john_stepek.