Greece, not again?

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Pension and civil-servant pay packets are due at the end of the month, and based on this news Athens may struggle to pay them. Even if it does manage that, on June 5 the country owes another €305 million to the IMF.

The 'endgame' looms as Greece gets crunched on 2 fronts - Business Insider

European Central Bank policy makers will discuss Greek bank aid on Wednesday in a chore that is getting more uncomfortable every week. The Governing Council will meet in Frankfurt to debate whether to tighten rules on Greek access to Emergency Liquidity Assistance as the country veers toward default. Officials are well aware their decision could worsen the political crisis just as bailout talks show signs of progress.

The ECB's in a Tight Spot Over Greece - Bloomberg Business

Simon Quijano-Evans, head of emerging-markets research at the German bank, said that those worried Greece could be about to default on its debts should take note of EM crises in Latvia in 2008, Turkey in 2001, Argentina in 1999 and Thailand in 1997. Greece is actually in a worse position than those countries were when they faced a default, he argued.

History tells us how the Greek drama could end

German Finance Minister Wolfgang Schaeuble told Reuters the Greek government's optimism about clinching a cash-for-reforms deal with its lenders in days was not backed up by negotiations and he could not rule out Greece becoming insolvent.

Greek optimism about imminent deal not justified: Schaeuble | Reuters