Greece, not again?

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Serbia (formerly part of Yugoslavia) and Bulgaria, which borders Greece to the north east, were named as the most vulnerable frontier markets to a Grexit, "particularly if it leads to financial stress in the wider euro zone." Romania, located to the north of Bulgaria, was also named as among the most at risk from a Grexit.

‘Grexit’ may endanger these surprise countries

It is clear that Europe will keep the Greek boat afloat through the referendum, and rightly so. It’s a lot of legalistic flexibility and patience, but – in my opinion – it’s the right thing to do. But next Sunday is decision time for the Greek population.

Greece: bank analysts and eurowatchers on what to expect on Monday (UPDATED) | FT Alphaville

On Tuesday 6pm Washington time, the Greek government will almost certainly miss its EUR 1.6bn payment to the IMF, and while it’ll be a month before all the normal procedures for arrears and all roll out, they will have joined that sad club of failed states in terms of relations with the IMF.

Greece: bank analysts and eurowatchers on what to expect on Monday (UPDATED) | FT Alphaville

First up is the IMF payment on 30 June. Missing an IMF payment is not technically defined as a default by credit rating agencies. Furthermore, under normal IMF conditions a missed IMF payment is not registered as such for a while.

Greece: bank analysts and eurowatchers on what to expect on Monday (UPDATED) | FT Alphavill