ECB’s Governing Council is in a tight spot, as Greece warns that it will default on IMF payment without a deal
Voice of America
European Union and International Monetary Fund officials said Tuesday that they are making “some progress” in discussions with Greece to save the cash-strapped country from bankruptcy.
By Mark Gilbert, Bloomberg
When does Greece finally run out of money? At what point will depositors have drawn so much cash out of the Greek financial system that its banks are essentially insolvent? And how long before Greece exhausts its bag of tricks, such as drawing down account balances at the International Monetary Fund to pay money owed to the International Monetary Fund? Here's a potential answer.
European Central Bank policy makers will discuss Greek bank aid on Wednesday in a chore that is getting more uncomfortable every week.