Greece is in fact bankrupt. it needs IMF and EU to release next tranche of money in order for them not to be in default, but its a matter of time before they default because Greece certainly cant afford to pay its staggering debt, just the interest payments alone, will prove to be difficult. its just a matter of time when Germany and France get fedup to keep on rescuing Greece with their taxpayers money. so it doesnt bode well for the world economy, when after Greece, its Portugal, Spain and recently Italy in the news.