Well it’s taken a couple years longer than originally predicted, but most financial experts don’t see any way out of total economic collapse for the Greeks ~

Greece has a 1.6 billion euro ($1.8 billion) debt due to the International Monetary Fund on Tuesday (June 30th) and its bailout program expires the same day, after which it is unclear how the country might survive financially.
Source: Fox News

 
Victor Davis Hanson provides some background on the sorry situation ~

For almost six years Greece has been on the cusp of financial disaster. Its Northern European and international creditors have extended loans, suspended interest payments and forgiven some debt.
 
But European lenders also have stubbornly kept to the old-fashioned principle that creditors freely borrowed their money from lenders, and therefore most borrowed money must be paid back, regardless of the current financial status of the debtors.

 
It appears that fellow Eurozone members have finally run out of goodwill and patience; finance ministers rejected the country’s request for a one-month extension to their bailout program.
 
Reacting to that decision like an indignant adolescent whose parents finally put their foot down and cut off their irresponsible teen’s allowance, Greek prime minister Tsipras threw a tantrum ~

… accusing creditors of trying to strong-arm his country into taking harsh austerity measures he says would hammer an economy already on its knees after five months of creditor-demanded spending cuts and tax hikes.
 
 
“They didn’t ask us to agree, they asked us to surrender our political dignity,” Tsipras said during a tumultuous and nearly 13-hour parliamentary session that cumulated in a vote just before 3 a.m. yesterday (6-28-15).

 
Analyzing the fiscal crisis, Mark Nuckols at Newsmax captioned the prime minister’s obstinacy aptly: Tsipras Screws The Pooch ~

Tsipras, the leader of Syriza (“Coalition of the Radical Left”), went on national TV at one in the morning on Saturday to announce his decision to torpedo Greece’s economy and the future of its people. Tsipras and his fruit-loopy Marxist finance minister have conducted four months of talks with Greece’s creditors trying to unlock more bailout money and bargain for yet another reduction in its outstanding debt. They’ve known all along that this Tuesday, June 30 was the drop-dead date for reaching a deal.
 
And all along they have been counting on blackmail to squeeze the rest of Europe for concessions. Syriza is garden variety liberalism on steroids, a party whose entire electoral appeal was “vote for us, and we’ll somehow convince the rest of Europe to cancel our national debts, and don’t worry, you can still receive your government pension at age 50.” 😯 And Tsipras’ basic negotiating stance has been, “give us more money, or we’ll declare a default, leave the eurozone, and laugh while your financial system collapses.” […]

 
Time was rapidly running out, and Tsipras waited in vain for the rest of Europe to blink first. And when Merkel and company failed to flinch, Tsipras decided to try a gambit whose idiocy defies belief. He announced that Greece will hold a national referendum on (July 5th) to approve or not the relief package Europe is offering.

 
But – the country’s going to default tomorrow. Five days before the Greeks have their say at the ballot box… Hello?!

 
 
Unfortunately for Greece, Alexis Tsipras isn’t just some irresponsible teenager who can still be reined in by his parents and taught fiscal responsibility. He’s a prime minister dragging his whole country off an economic cliff ~

At the end of the day it will be the people of Greece who suffer. And then it will be up to the Greeks to finally decide whether they want to live in a failed Balkan state like Serbia, or whether they want to toss out Tsipras and Syriza, pick up the pieces and begin the hard work of transforming Greece into an honestly run, economically stable, fiscally sound country. I believe they will, and when they do, and elect a responsible government, then Europe will be all but too happy to help Greece back on its way to its rightful place in Europe.

Others aren’t quite so optimistic.
 
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Related:
How To Cover Your Ass: The Greek Edition
The world is defenceless against the next financial crisis, warns BIS ~ Monetary policymakers have run out of room to fight the next crisis with interest rates unable to go lower, the BIS (Bank of International Settlements) warns ~

… central banks have backed themselves into a corner after repeatedly cutting interest rates to shore up their economies.
 
These low interest rates have in turn fueled economic booms, encouraging excessive risk taking. Booms have then turned to busts, which policymakers have responded to with even lower rates.