Greece would mean forcing it out of the Eurozone by permanently cutting off funding to the government and banking system.
Greece is already effectively living off home-grown tax revenue, since it cannot affordably borrow from markets. Its surplus cash last year,wholesale cheap jordans, after public sector salaries had been paid and the underfunded pension system had been topped up, amounted to just under 2bn euros ($2.3bn) - nowhere near the 22bn euros ($25bn) it needs to service the debt this year.
This means unless there is a breakthrough with creditors soon, Greece will at some point be forced to issue them with an IOU,cheap air jordans, effectively inaugurating a national currency.
Syriza has put public finances further into doubt by announcing the abolition of an unpopular property tax and the reinstatement of a 12,amassdenver.com,000 euro tax exemption this year. This would deprive public coffers of more than 3.5bn euros, says Yiannis Siatras, head of the Greek Taxpayers' Association.
"Will [the government] make up the shortfall by pursuing tax evasion? I rather doubt it,www.amassdenver.com," says Siatras.