Greece now in default to the IMF, bailout expires

The clock struck midnight in Brussels, 1:00 in Athens and 18:00 in Washington. Greece did not pay the ~1.5 billion euros it had to pay the IMF after bundling June’s payments. This can be called “arrears” and not “default”, or just that the Greece did not pay the IMF on time.

Update: the IMF officially confirms the non-payment and more interestingly notes that Greece has asked for an extension of the repayment and that this request will be considered “in due course”. Given the recent IMF stance, this seems unlikely.

Read the rest of the article Greece now in default to the IMF, bailout expires