Event:
Debt rating company Moody's downgrades Greece to a Caa3 rating after the country misses its $1.6 billion payment to the IMF; Greek citizens will vote July 5th on whether to accept austerity conditions in exchange for bailout funds
More Notable Events on July 1:
1997 U.K. returns Hong Kong to China
1963 U.S. postal service institutes zip code system, Zone Improvement Plan
1917 257cm-mirror for Mount Wilson Observatory mounted
1916 Coca-Cola brings current coke formula to the market
1907 World's 1st air force established in the U.S. Army
