Greece made a 750 million euros repayment to the International Monetary Fund a day ahead of schedule on Monday but it is not clear precisely how much money Athens has left in its coffers.
Greek Prime Minister Alexis Tsipras meets Angela Merkel in Berlin late today.
The strategy in Athens seems to be to seek mercy from EU leaders, going over the heads of euro zone finance ministers and the European Central Bank and IMF, hoping that they will see the broad political cost of a Greek collapse rather than focus on the nitty gritty of funding and required economic reforms.
That doesn’t look like a winning strategy.
A Greek deal has been pulled from the fire at the last moment. The country’s bailout programme will be extended for four months averting a potential cash crunch in March that could have forced the country out of the currency area.