Greece, not again?

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The European Central Bank has raised the prospect of Greece crashing out of the euro after it said financial buffers were sufficient to prevent contagion to other weak economies in the currency union. ECB president Mario Draghi said funds were sufficient to cope should Athens default on its debts, but warned that Europe would be entering “uncharted waters” that made the outcome of a default uncertain.

Fears grow of Greek euro exit after IMF meeting | World news | The Guardian

The following are potential scenarios, based on interviews with economists, investors and former policy makers:

Greek Officials Ponder Life Without the Euro - Bloomberg Business

U.S. President Barack Obama and European Central Bank President Mario Draghi both called on the Greek government to do more to resolve the standoff amid depleting cash reserves. Greek officials, including Deputy Prime Minister Yannis Dragasakis, stood their ground on measures such as cutting wages and pensions, adding new taxes or selling state assets. “We don’t budge from our red lines,” Dragasakis said in an interview published Sunday in the Athens-based To Vima newspaper.

Euro Area Seeks Greece Roadmap to May Agreement to Avoid Default - Bloomberg Business