There seems to be a hardening of positions between creditors and Greece’s government, with the substance of reforms being the sticking point. Personally, I fear that the Syriza government does not have the domestic political power to agree to further reforms. It looks increasingly likely that Greeks will chose increased poverty over reform. I sense that the probability of a major default from Greece is increasing by the day. In my judgement, a Syriza triggered default will be cause immense hardship in Greece. And I would expect contagion to impact the Eurozone and the world’s financial markets.