Greek default officially on the table, according to 'officials' cited by RTRS

  • Eurozone talks on scenario of Greek default were very theoretical, no conclusions reached
  • Some Eurozone countries regard a Greek default as a likely scenario
  • Scenario of deal with Greece in time for June disbursement is seen as least likely by most Eurozone states
  • Discussed scenario of extending current Greek bailout with conditions, disbursements in tranches but no conclusions

This is strictly PR. There were leaks about official talks of a default last week. With the non-stop talking they do, it would be a tragedy if they hadn't made extensive 'what if' plans.

We had an interesting poll about Greece yesterday.

Bloomberg earlier reported:

Battle lines were drawn on Thursday night at a working dinner of EU finance officials that set out the parameters of a likely showdown next week when their bosses meet in Luxembourg.

Greece was given less than 24 hours to come up with firm proposals to end the impasse, two officials present said. That would allow officials to review the plan over the weekend with a view to sealing a staff-level agreement by Tuesday, the officials said.

That would give finance ministers from the bloc a chance to sign off on the deal when they meet in Luxembourg on June 18.

Because some national parliaments need to ratify the agreement before funds can be disbursed, that's the last chance for Greece to secure aid before the bailout expires at the end of the month, Tusk said on Thursday.