Greece Is Fucked

The IMF has said that Greece needs another Euro50BN bailout, and that the debt is unsustainable and will need to be restructured.

Greek FinMin Varoufakis: Says IMF Proposal Is ‘Music To His Ears’ -Greek Debt Is Unsustainable $EURUSD

— Live Squawk (@livesquawk) July 3, 2015

Music or not, Greek banks are down to their last Euro500M. The emergency is now, not in the months it will take to negotiate/approve (if at all) a Euro50BN bailout and debt restructure!