The largest and worst sovereign debt crisis, ever, is rapidly approaching.
Greece is now at its tipping point. As I pen this issue, the government of Greece is desperately trying to stave off default on a 750 million euro repayment ($835.7 million) to the International Monetary Fund (IMF).
Whether Greece gets concessions or not, won’t matter. Because come June, Greece faces another 2.6 billion euro repayment (US $2.9 billion).
And come July and August, it will face a whopping 8.7 billion euro ($9.69 billion) repayment — 7 billion ($7.8 billion) of which is owed to the European Central Bank (ECB).