According to Bloomberg, which claims to have information from European officials, Greece could be facing the danger of a default as well as the danger of a Grexit should the evaluation of the progress of the current bailout program be prolonged to June or July
Greece has not reached an agreement with its creditors regarding the pension scheme, the taxation policy or the fiscal deficit. At the same time, other issues remain open such as the resolve of the problem of the non payed loans and the proposed fund for the privatization of public assets. The IMF is a further hindrance at this point of the negotiations.
The chief economist of ING Diba AG, Carsten Brzeski, said that: “The possibilities I give to another Greek crisis this coming summer are relatively high. Given the extremely slow pace of reform implementation, the evaluation, the loss of popularity by SYRIZA in the polls and the, still limited will to cut the debt, the next crisis is in the making. It is a matter of time before it happens.”