Exclusive: Euro zone formally discusses Greek default for first time

Senior EU officials have formally discussed for the first time a possible Greek debt default as negotiations between Athens and its creditors have stalled ahead of an end-month repayment deadline, several officials told Reuters. The government representatives, preparing next week's Eurogroup meeting of euro zone finance ministers, concluded at talks in Bratislava late on Thursday that there were three possible scenarios for what would happen with Greece at the end of June. Most officials argued that it was unlikely that creditors would strike a deal on reforms with Athens in time to disburse the 7.2 billion euros that remain available to Greece under a rescue program extended in February for four months.

Exclusive: Euro zone formally discusses Greek default for first time source: http://finance.yahoo.com/news/exclusive-euro-zone-formally-discusses-123011525.html