Greece has introduced a new political negotiating team to jump start stalled talks with its creditors, but can a deal be reached with its Euro zone partners or will it be forced to leave the Euro zone. What impact will that have on the global economy?

Greece and its Eurozone partners met last week but failed to reach a deal. Experts say Athens is edging closer to defaulting on its international loans. Some believe this could lead to Greece leaving the single Euro currency. Greece has ordered its public sector bodies to hand over any reserve cash to help it repay the International Monetary Fund nearly 1 billion Euros in May. The Greek government is also struggling to pay its pensioners and public sector workers.

CCTV reporter Owen Fairclough provided an update.

The Heat spoke to these experts:

Philippe Legrain, a former economic advisor to the president of the European commission from London.

Volker Stanzel, a German diplomat and former German ambassador to China and Japan from Berlin.

Yannis Koutsomitis, a Greek journalist from Athens.

The discussion continued on The Heat.