With an end-of-month deadline to come up with €1.6 billion, it looks like time is finally running out for Greece. Prime Minister Alexis Tsipras dispatched his finance minister without a plan and penned a defiant editorial in the German press. Could this be the time Angela Merkel is forced to decide between letting Greece off the hook for debts it can't repay, and letting Greece default, thus sending a nation and a continent into uncharted territory that could come back to haunt all the players?