Let’s consider the facts.
The current disagreement is over whether Greece’s creditors will release another bailout installment to pay… Greece’s creditors.
From a strictly financial perspective, this is highly problematic. Were a bank take a similar approach, it would have to give explanations to the regulators. This is called ever-greening – give the client funds to pay you back, and that way you can pretend that the loan is on schedule. If the creditors fail to disburse the next “bailout” paymen
