The Keynesian endpoint is when the entirety of government tax revenues has to be used for paying interest on the public debt. At this point a sovereign feels compelled to monetize an exponentially increasing debt load and/or default.
Greece is drawing up drastic plans to nationalise the country's banking system and introduce a parallel currency to pay bills unless the eurozone takes steps to defuse the simmering crisis and soften its demands.
"We may have to go into a silent arrears process with the IMF. This will cause a furore in the markets and means that the clock will start to tick much faster," the source told The Telegraph. Syriza's radical-Left government would prefer to confine its dispute to EU creditors but the first payments to come due are owed to the IMF .