August 20th is a pivotal date when 3.8 billion Euros are due from Greece to the European Central Bank.
The IMF is saying that if this isn’t paid, they’ll stop loaning money to Greece.
Once the IMF is done with Greece, will the European Monetary Union be far behind?
In my opinion, Greece will exit the Euro sooner rather than later, and this is good for the long term strength of the Euro.
How will this affect our US markets? Always the big question. More stability and stronger private balance sheets makes the US a better investment I believe.
Here’s a good article for a full description.