With less than a week left, its decision time for Greece and Europe. Bundling june payments to creditors surely will buy Athens a few more weeks of time, but at this point its best to either “shit or get off the pot.”
To be sure, Greece does have two options to kick the can yet again: one, of course, is to get a deal done in the coming 5 days although that is virtually impossible; the other is to bundle all June payments into the last one for the month, thus buying three additional weeks of time. This outcome now looks almost certain especially since two days ago the Greek government spokesman Sakellaridis said the Greek government denied planning to bundle the IMF payment, which essentially assures it.
However, even if Greece manages to kick the can for the nth time for the past five years, it has a lot of cans left to kick for the remainder of 2015.