If so, it would be back to the drawing board for the troika and Greece would be in real danger of defaulting in the next few weeks as they run out of cash on hand.
EUR/USD sliding, now at 1.2950. Bids were rumored from sovereigns earlier at 1.2920/25. I would not bet my life on them being there after this news.
Talk about throwing the proverbial spanner in the works…
