And just like that, after effectively defaulting to the IMF a month ago, Greece has just re-effectively re-defaulted to the same IMF on its payment due tomorrow, which now will not be made, just as predicted.
Then, adding to the confusion, Greek PM Tsipras tweeted some token statement which for some inexpicable reason had a photo of himself in the tweet:
The Government will not accept extreme proposals. Our people have suffered enough during the past five years.
— Alexis Tsipras (@tsipras_eu) June 4, 2015
Just like that, Greece has called the troika’s bluff and put the ball back into creditors’ court. For their part, Europe expects a re-counter proposal to the troika’s original counter proposal by June 8:
The Euro Working Group expects Greece to respond to an EU proposal to conclude the country’s bailout by June 8, according to a person familiar with the talks.
The farce continues.