The MSM does a lot of reporting on a variety of financial topics, but somehow they have missed Greece’s insolvency.
An entity is illiquid if it possesses assets to cover its liabilities but is having problems converting those assets into cash. In a case of illiquidity, a temporary loan can cover the entity’s cash needs until it is able to trade its assets for cash and settle its debts.
Greece is insolvent. This means that it does not have enough assets to cover its liabilities. When an entity is insolvent, it is also illiquid because it is cut off from markets which convert assets into cash.
Right now, Greece is a ward of the Eurozone. It has no money to fund itself and is relying on money printing in the short term until the next bailout tranche arrives.
Don’t worry. The next tranche will arrive. No one wants to be responsible for cutting Greece off and starting a financial panic.