Greece failed to meet its obligations to IMF

Greece became the first developed country that has failed to meet its obligation on time to the International Monetary Fund. Athens turned out without the necessary funds, after negotiations with creditors broke down over the weekend. Consequently, to the country was introduced capital controls.

The Balkan country had to transfer the IMF 1.55 billion Euros until Tuesday night - the biggest single missed payment in the history of the organization.

Yesterday Prime Minister Alexis Tsipras attempted to exit the critical situation by presenting new proposals that could help for the extension of the European rescue program. But so far, creditors prefer to wait for the Sunday’s referendum in which the electorate must state whether it accepts the reform requirements.

However there are rumors that the government will lobby for voting "yes", and even that may counterman the poll.

So far, the situation remains unclear and chaotic, and the balance may reverse to any direction.