Analysts are warning that a Greek default is only weeks away if the country receives no emergency funding, a situation that could result Greece's exit from the eurozone, The Wall Street Journal reports.
Stalled talks between Greece and its creditors, which include Eurozone members, the International Monetary Fund, and the European Central Bank, have pushed the country to the brink of bankruptcy, The Journal said.
President Obama and German Chancellor Merkel stressed the importance of coming up with an emergency financing deal for debt riddled Greece at the summit of the Group of Seven industrialized nations in Germany.
Greece has refused creditors calls for an overhaul of its pension and wage polices and European officials have rejected Greece's debt restructuring requirements.
Separately, TheStreet Ratings team rates NATIONAL BANK OF GREECE as a Sell with a ratings score of D. TheStreet Ratings Team has this to say about their recommendation:
"We rate NATIONAL BANK OF GREECE (NBG) a SELL. This is driven by some concerns, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. The company's weaknesses can be seen in multiple areas, such as its feeble growth in its earnings per share, deteriorating net income, disappointing return on equity, poor profit margins and weak operating cash flow."