[pkteison]

Paying me, but not on the originally agreed upon schedule, is still a default. What's wrong about calling it one?

[vladd]

It's not written anywhere that they won't pay upon the agreed schedule.

Debtors have "an option" to gain additional guarantees at an additional cost. For debtors that don't enter into such additional contracts, Greece made all the payments up to date.

[jeffreymcmanus]

For the same reason that clipping my fingernail isn't the same as severing my finger.