Preview of upcoming crucial event risks associated to Greece

Risks associated to Greece have intensified in recent time and several of them are due by next week.

Euro Group meeting -

• Euro group finance ministers will reconvene on 11^th of Many, Monday to discuss Greek situation.

• German finance minister Wolfgag Schäuble has so far maintained hard line on Greece, saying that any further aid to Greece need to make sense, indicating at lacking assurance that Greek government can steer through the crisis and would implement the reforms suggested by country's bailout program.
  
  
• Group chair Dutch finance minister Mr. Dijsselbloem has warned that no solution should be expected over Monday's meeting.
  
  
• IMF spokesperson over European matters, warned that Greek bailout might lose IMF assistance as the country remains too far off from the anticipated path of implementation. Debt has not fallen at level which would make IMF comfortable to continue to fund the program partially. IMF has also suggested that debt write off by official sector seems necessary to keep Greece within the boundaries of program and IMF comfort zone.
  
  

IMF payment -

• Greece is due to pay IMF € 0.77 billion on 12^th of May, Tuesday.

• Greek government said that it does not have enough cash to pay IMF and fulfill its pension and salary liabilities due later this month.

ECB and ELA -

• ECB yesterday increased its exposure to Greek Emergency Lending Assistance (ELA) by € 2billion to overall € 78 billion.
  
  
• ECB has deferred its decision to pose additional haircut to Greek collateral.