While all eyes are focused on Greece, there is a potentially far more important crash going on.
Via Sober Look comes this pair of charts:
China's stock market is crashing. It's very evidently a bubble bursting. The question is, what will be the knock-on effect to the Chinese economy, and indeed to the whole of South East Asia, Brutal sell-offs of this kind are rarely without economic cost, especially when the bubble is debt financed (as this one is). I can't see this ending well.
China stocks are battered anew - WSJ