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The economic and political collapse of Greece inevitably affects the trade levels of the Greek government bonds. Their spread-index is not falling below 1560 bps, and the CDS insurances are almost reaching 2000 bps. The main index of the Athens Stock Exchange collapsed by 3.12% around two o’clock in the afternoon. We are worried due to the dramatic change in the last 24 hours, admitted Zu Min, who is an expert advisor to the executive manager of the International Monetary Fund.

Washington is watching the developments in Greece closely and the IMF insists that it is ready to help when consensus on the future economic policy is reached inside the country. "However, given the situation we see that there is considerable uncertainty and therefore we are very careful and monitor this process very closely," said the financier, who is very well aware that Greece is not only far from agreement, but it is not even clear who will govern it tomorrow.

Meanwhile, the Financial Times predicts the country’s insolvency this summer, citing anonymous analysts, Imerisia reported. The British newspaper reports that the debt crisis has prompted new bets on defaulted payments as soon as possible because of political games and social discontent, which take the country away from its main goal - to reduce the deficit and begin forming primary surpluses.

The available resources of Greece are sufficient to cover its normal functioning in the next 15 days, say economic observers from Sky. Then the state will have no money to pay pensions and salaries. If the fifth tranche from the current rescue program is not paid until the end of July, Greece will not be able to cover its obligations of the foreign debt in August this year. On the other hand, even if Europe and the International Monetary Fund are willing to give money to Greece, they could not do it until it becomes clear who will form the government and who will be the minister of finance who will take the obligation to carry out the reforms planned in Memorandum 2.

The Economic Affairs Commissioner Olli Rehn is trying to dispel the doubts about the payment of the next tranche. "I'm optimistic that during the meeting next Sunday Eurogroup will be able to allow the payment of the fifth tranche of the loan to Greece in July. I also believe that we will be able to complete the assessment as agreed with the IMF," the commissioner said.

And while Europe is signalling that nothing is lost yet and Greece still has a chance to emerge from this situation, the patience of the local business is wearing thin. The Chairman of the Athens Chamber of Commerce Kostadinos Mihalos said that by announcing the resignation of George Papandreou and withdrawing the proposal subsequently, the government placed a tombstone of the entire nation's hopes of emerging from this crisis. He was adamant that the restructuring of the cabinet would not solve Greece’s problems of the high deficit and the rising foreign debt and called on the government to show responsibility and to get to its work, which is to restore the balance in the country.

Further details are coming soon