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Greece probably has until late July to come to an agreement with its creditors before the process...
Greece probably has until late July to come to an agreement with its creditors before the process of leaving the monetary union would begin. Possible delays in payments to the International Monetary Fund in June shouldn’t prompt the European Central Bank to shut off vital liquidity to Greek banks. By contrast, a default on marketable debt -- specifically the failure of the Greek government to pay 3.5 billion euros due to the ECB on July 20 -- would put Greece close to the exit. The Greek government and its creditors are still likely to reach a deal on a list of reforms before that crucial date.