Two main issues that intensifying Greece turmoil

European markets seem to be under stress due to the talks between Greece and its creditors which collapsed this weekend.

As a result the panic in Euro zone is that Greece could default on its debt obligation if no agreement is potted by end of this month.

The International Monetary Fund (IMF) and Greece may get into an agreement to resolve the main issues of the pension schemes and VAT.

Despite the growing concerns over the situation, it is prevailed that the conditions are much better currently than they were three years ago when Greece was rumored to quit the Eurozone.

Bailout agreement with Greece expiry nearing, 30^th June is the deadline.

A lot of sell off was seen that time in the markets, but situation is better now with European Central Bank buying bonds.

As far as emerging markets (EMs) are concerned, along with Greece situation it is the Fed rate hike that is a cause of concern for EMs.