Photo: New York Times Syndicate
This post originally appeared at The Christian Science Monitor. Greece‘s European partners are increasingly sceptical that Athens can avoid default. The highly indebted country is working feverishly to secure a debt write-off to avoid default, but international investors see even that as a default of sorts.
With only weeks to go before a crucial bond repayment date, statements from European leaders reveal a growing mistrust in the Greek political class’s ability and willingness to implement deficit cutting measures. Without those measures, Greece will not receive a necessary second bailout from international lenders, and without the bailout, it will likely default when its debt comes due in March.
According to some analysts, Europe is readying for a Greek bankruptcy.
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