According to the story here, the International Monetary Fund, which has finally been calling for debt restructuring for Greece, i.e. haircuts, forgiveness, some say too little and too late, now believes the agreement reached this weekend falls far short of making Greece's debt sustainable.
That fact means the IMF cannot agree to additional bailout sums according to its rules, which means the latest bailout would fall apart as the IMF would have to withdraw the 16+ billion Euros it has pledged in the deal.
In addition London is objecting to the proposed source of summer bridge loans to Greece which it says were previously ring-fenced against use for future bailouts. The Eurogroup doesn't seem to care about this very much, signaling that it intends to break the rules.
What a shock, huh?
