Citation :
On June 5, Greece has to pay €240 million to the IMF. A week later another €270 million are coming due. All in all, Greece has to pay back €1.5 billion in IMF loans over the month of June. All indications are that the Greek government doesn't even have the €240 million that are coming due next week. In light of this, its intransigence in the negotiations with the euro group may be slightly bewildering, but as we have pointed out already when it became clear that Syriza would likely win the Greek parliamentary elections, the situation always was akin to a Mexican standoff.
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