Greece faces ever greater difficulties convincing markets it can avoid defaulting on its debt, an event that would have far-reaching consequences for global financial markets.
European officials are under severe pressure to avert such an outcome by agreeing a deal to ease Greece's immediate funding shortage and put its finances on a sustainable path.
Despite the urgency, no agreement has been reached. A deal has been delayed as policymakers try to balance the need to avoid triggering financial turmoil against political pressure to make bondholders share the burden of supporting Greece.
Below are the main possible solutions to the Greek debt crisis and the potential impacts on private bondholders, credit ratings and derivative markets.
Reuters
