The latest set of talks between Greek officials and their creditors were abandoned without any compromise. EU-Commissioner Juncker was quoted on Reuters as saying that he is convinced a solution can be reached before the end of the month if Greek politicians make more reform efforts and if all sides show more political will.
Greek FinMin Varoufakis is pushing hard for some level of debt forgiveness as well as more time to repay whatever debts are outstanding.
The problem is that the ECB, EU and IMF have heard many stories and promises before but concrete actions have been few and far between. This issue looks like its finally going to come to a head in the next few weeks.