By tomorrow when its June 5 IMF payment comes due, Greece will be in default. That’s it. Game over. Now the dominoes will start to fall.
Watch the bond market.
From the AP:
ATHENS, Greece (AP) — High-ranking members of Greece’s governing radical left Syriza party say they cannot accept a deal proposed by the country’s creditors during a meeting between Prime Minister Alexis Tsipras and the head of the European Union’s executive arm.
Tsipras’ meeting with Commission President Jean Claude Juncker, which ran into the early hours of Thursday, failed to yield a breakthrough in Greece’s protracted negotiations over the release of remaining bailout funds.