Greek End Game Approaching?

"In anticipation of a default, the yield curve flattens abruptly with short-term yields rising rapidly to match the higher yields for long-term bonds. Long-term bonds already reflect, at least in part, the default debate. It’s when that debate moves closer to reality that the short-term debt suddenly transforms from relatively safe to very risky, driving yields sharply higher as prices, which move in the opposite direction of the yield, plunge."