This has been hanging over the financial markets like a bad cold for some time. Greece and the Eurogroup are down to the wire and neither side is budging. But just how significant is it? On Friday Greece has a $339 mln payment due the IMF. If a deal isn’t made Greece says “no payment.”
The Greek government's choice to become its new representative at the International Monetary Fund said on Monday she would not take up the job following a backlash within the ruling leftist Syriza party.
Greek Finance Minister Yanis Varoufakis said on Sunday that Greece "intends to meet all obligations to all its creditors, ad infinitum," seeking to quell default fears ahead of a big loan payment Athens owes the IMF later this week.