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" ... We've had so many of these last chances for Greece to come to a deal with its creditors that it's not really funny. But we really do seem to be getting to the end of this story. For today is the last Eurogroup meeting at which a deal could be cobbledf together in time for Greece to avoid default on debt to the International Monetary Fund at the end of the month. And then, presumably, default to the European Central Bank shortly thereafter. It's that second which is the more important issue, despite the IMF being generally considered as the preferred creditor. The IMF can string things out if it wishes. But the ECB would face a specific choice in the event of a default. To support the Greek banks or to let them fall over? ... "