Greece Effectively Defaults To IMF Using SDR Reserves To "Repay" Fund; 1 Month Countd - page 3

[whisperer]

Watch for midnight CET today

[thenews]

IMF confirms it didn't receive da cash- is sending the boys around with the baseball

IMF confirms Greece didn't make payment

• Says Greece requested an extension
• Says board will consider Greek request for extension in due course

-

Aaaaand .... Twitter erupts with arguments over whether it's a 'default' or 'arrears'

FFS

None of the above. Use your imagination people!

Its a either Grefault or Grarrears, both work for me.

Next question, please.

source

[thenews]

UK Telegraph says reports Greek banks to undergo stress test this month

A report in the UK Telegraph quotes 'weekend reports'

• Says Greece's top four banks, National Bank, Piraeus Bank, Alpha Bank and Eurobank, - will undergo an 'asset quality review' later in August
• Then stress tests will follow to determine the recapitalisation requirements of each bank with European rescue funds