A down beat article from the Wall Street Journal:

  • It's still possible that Greece can remain in the eurozone-though that is no longer the base case for many policy makers
  • At the very least, most fear the situation is going to get much, worse before it gets any better
  • No one now expects a deal to unlock Greek bailout funding at this week's meeting of eurozone finance ministers in Riga-originally set as the final deadline for a deal. The new final, final deadline is now said to be a summit on May 11.

    But among European politicians and officials gathered in Washington DC last week for the International Monetary Fund's Spring Meetings, there was little optimism that a deal will be agreed by then.

    The two sides are no closer to an agreement than when the Greek government took office almost three months ago.

There is more at the article, which is gated: Europe Braces for Messy Greek Endgame