Greece preps to hear its fate on a bridge loan from EU officials Friday so it can open banks on Monday.
The vote is not a given since the IMF has come out and said that Greek debt levels are unsustainable and that a substantial haircut is needed on the principal amount owed.
It’s Greece’s best last chance to get out from under the burden of a decades-long vassal existence within the euro zone. Unfortunately, it will probably not work out well for Athens, since the Germans are staunchly against a haircut, fearing the rest of southern Europe will come knocking should the haircut be allowed.
Despite this drama, this is the first weekend in a month or so where there is not a vote of measure being voted on in Greece or Brussels.
So let’s take it in and have a good weekend.