Greece Effectively Defaults To IMF Using SDR Reserves To "Repay" Fund; 1 Month Countdown Begins

http://www.zerohedge.com/news/2015-05-12/greece-effectively-defaults-imf-using-sdr-reserves-repay-fund-1-month-countdown-begi

In sum: the IMF paid itself on behalf of Greece and will now be forced to pay itself back for paying itself later this month. Or, put differently, Greece has prepaid the IMF with IMF money it doesnt have.