After a difficult month, Athens is facing liquidity problems. It has to pay 458 million euros to the IMF on the 9th of April, but what would the consequences of a default be?

The Greek government is called to face another crucial deadline in its rescue drama in the coming week, since fears that the country will fail to meet its commitments abound.

According to the IMF protocol, Greece will receive a grace period of 30 days in order to pay off its debt to the Fund, as soon as possible, before Christine Lagarde convenes the council to take action on the delayed payments.

After this amount of time has passed, a technical default could be issued. Meanwhile, according to the Telegraph, Greece may have scared off its creditors and markets with this “violation” of the holiness of the monetary union.