Earlier today, as the exchange between Greece and its creditors got increasingly belligerent, Estonian Prime Minister Taavi Roivas told public broadcaster Eesti Rahvusringhaaling in interview that a possible Greek decision to leave euro area wouldn’t soften stance of other EU countries and that Greece’s debt would still remain outstanding and creditors would expect this money back.”

“If Greece leaves, the value of their new national currency would decline very fast, so their solvency would still worsen further. They will either have to cut spending or improve their tax revenues. There are no other options.”

So did this latest antagonism change the Greek mind? According to a flash headline by the WSJ released moments ago, not all. In fact, Greece just made it official that it would default to the IMF in just over 24 hours.


Submitted by Tyler Durden
Full report at Zero Hedge

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2 thoughts on “Greece Will Default To IMF Tomorrow, Government Official Says”
  1. Reblogged this on Brittius and commented:
    I can’t believe it is going to happen. Shockwave will go around the world, and currencies, might end up void thus assigned to toilet duties. Greece should dig into the earth and pull some resources of whatever they come up with and are marketable or, the people will be paying the piper. Shipping also might save them if enough commerce can be attracted. Greeks are historically right at the top of the seafaring world.

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