As Greece Heads for Default, Voters Prepare to Vote in Pivotal Referendum on More Austerity

"Democracy Now!" airs weekdays at 9 a.m. PT on KCET.

Tens of thousands of Greeks have protested against further austerity cuts ahead of a key referendum on a new European bailout. The demonstrations come as the country confirms it will not meet the deadline for a $1.8 billion loan repayment due by 6 p.m. Eastern time tonight, deepening Greece's fiscal crisis and threatening its exit from the eurozone. Greece will hold a vote this Sunday on whether to accept an austerity package of budget cuts and tax hikes in exchange for new loans. Greek Prime Minister Alexis Tsipras has urged a "no" vote, calling the proposal a surrender. "Democracy Now!" goes to Greece to speak with Costas Panayotakis, professor of sociology at the New York City College of Technology at CUNY, and author of "Remaking Scarcity: From Capitalist Inefficiency to Economic Democracy."