Greek default: Not if, when.

The meeting  tomorrow of eurozone finance ministers is expected to sign off the latest bailout for Greece.  Failure to do so will lead to default.  However, there is  growing sentiment across the eurozone, the IMF and the European Commission that Greece is dead in the water and that signing off the bailout is the equivalent of throwing good money after bad.

http://www.telegraph.co.uk/finance/financialcrisis/9091021/Germany-drawing-up-plans-for-Greece-to-leave-the-euro.html

http://www.telegraph.co.uk/finance/financialcrisis/9090856/Greek-rescue-threatens-eurozone-structure.html

http://www.telegraph.co.uk/finance/comment/liamhalligan/9090655/As-Athens-riots-global-markets-say-so-what.html

http://www.bbc.co.uk/news/business-17088906

http://www.telegraph.co.uk/finance/financialcrisis/9092320/Germany-bows-to-global-pressure-and-signals-Greek-rescue-deal.html

http://www.telegraph.co.uk/finance/comment/ambroseevans_pritchard/9091837/Can-a-return-to-the-drachma-save-Greece-as-unemployment-soars.html

http://www.spiegel.de/international/europe/0,1518,816410,00.html
Rescue package not the answer.