Greece’s non-repayment to the International Monetary Fund (IMF) on Tuesday (30 June) doesn’t mean it’s bankrupt, but it could prompt bankruptcy quickly enough.
The money, almost €1.6 billion, is due in the IMF’s bank account by 6pm Washington time.
Normally, the debtor country would inform the IMF the day before that it had lodged a payment order at its central bank and the money would be transferred in 24 hours.
Instead, a Greek official told the Reuters news agency on Mo...
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Andrew Rettman is EUobserver's foreign editor, writing about foreign and security issues since 2005. He is Polish, but grew up in the UK, and lives in Brussels. He has also written for The Guardian, The Times of London, and Intelligence Online.