Greece Defaults. What now?

[nanarchy]

Teeqoz said:

nanarchy said:

yes and no, not paying the IMF yet strictly speaking isn't a default. BUT it triggers ones as the ECB and IMF have frozen further funding for the banks which mean they can no longer pay debts, default should occur well before 15th July if they don't find more funding, the 2 billion on 15th is just a final nail in the coffin.

.....Unless they vote yes in the referendum and this gets emergency economic support from the EU.

It may be questionable whether they stay solvent till the result of the referendum is in. last details I saw (last week) were they due to the continued exodus of money the banks would only last 4-5 days, the referendum is right on that 5 day limit so it would be touch and go even if they could secure funding post referendum.