Greece is on the brink on catastrophe as it is running out of cash and the talks with its European partners have reached an impasse, The Economist says today in an article.

The finance magazine focuses on the developments that occurred during the last Eurogroup meeting, held on February 16, where it was “18 against one,” i.e. 18 Eurozone finance ministers against Greek FinMin Yanis Varoufakis, for the second time in less than a week.

Varoufakis rejected as “absurd” and “unacceptable” the draft statement that was presented to him by his colleagues, despite the fact that many believed this meeting to be Greece’s last chance to reach a deal with its creditors, before the its bail-out expires at the end of February.

On its part, Eurogroup president Jeroen Dijsselbloem insists that the bridging loan that Greece is seeking is simply a different word for a bail-out extension. However, Greek Prime Minister Alexis Tsipras would probably lose the support of the electorate and, more importantly, the far left platform of his party, if he were to retreat, according to The Economist.

The article also makes specific reference to the PM’s unprecedented popularity, as his approval ranged between 74% and 79% three weeks after assuming office.

However, despite the support of the Greek people, “the risk that Greece will run out of money within weeks rather than months is growing by the day,” warns the article.