Bloomberg: Greece could default on maturing bonds held by the ECB

The ECB holds EUR 3.1 bln in Greek bonds coming due on August 20.

Blloomberg reports that Greece could “delay” the payment (which constitutes a default) or it could issue bills (if they can find buyers) .

Odds are the EU will come up with some way to kick the can past August 20, but it bears watching in the weeks ahead. It will be an issue when European finance ministers meet on July 20, Bloomberg reports.