I may have my facts wrong, but it appears that there will be 5 votes in the next 2 weeks over the Greek bailouts and if any of them fail, then Greece will default on July 20.
Vote #1, on June 28 or 29, in the Greek Parliament on tax increases and spending cuts of E28.4bn.
Vote #2, on Thurs June 30, on selling Greek assets such as shares in electricity and telecom companies to raise E30bn.
Vote #3, in a special meeting of banks by July 3, to agree to extend the length of their loans by 7 years. This appears to already be a done deal: Banks "understand very well" that they must "voluntarily" participate in the Greece bailout, said Christian Noyer of the ECB.
Vote #4, on Sun July 3, in a special meeting of eurozone finance ministers. Apparently, this requires unanimous approval, and Austria is poised to block it.
Vote #5, on Tues July 5, the German high court will begin hearings on whether the bailout violates the German constitution. However, it may not rule for some time.
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Update: None of these seem to be a problem. However, there is a 6th hurdle to overcome, that of the rating agencies, that may be the fatal flaw.
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