The Greece problem:
Greece is running a high deficit at the government level and has borrowed from the IMF and European Central bank.
The new government which has been elected was on the premise of no compromise with the creditors. However, the people of Greece, majority of them want a compromise and ensure stability in Greece in the current circumstances.
The Greek issue is deeper than what is perceived at the superficial level. The tax receipts that are received are far lower than the government’s expenditure.
The issue of Greek exit is not yet considered an option even though a remote possibility. The Brinkmanship and posturing will continue until the 30th of June, 2015. It also does not mean that if Greece defaults on its 30th June, 2015 payment, Greece will stop functioning.
Therefore, its not a Lehman crisis but a crisis which needs attention and needs to be addressed with a compromise between the lenders (IMF, EU and ECB) and borrower (Greece).
The financial markets, are already sensing a possible deal which may be announced in due course of the next few days. However, it does not expect a Greek exit just yet.