In our Greece Macro Monitor published December 5, 2011, we provided a detailed analysis of the main risks and challenges facing Greece in the crucial period ahead as well as a detailed timetable of the key dates and events leading to the timely disbursement of the next EU-IMF loan tranche. In this issue we update our prior analysis on the basis of the most recent developments and the information we have lately collected from a number of press reports and other sources.