Greece won't pay business bills. Greek banks won't buy government T-bills.

Greece stopped paying its operating bills except for wages and pensions.  In today's T-bill auction, Greek banks only picked up half.  Watch for the new drachma.  On the present course, October 17th there won't be money for wages and pensions either.  Mish at Global Economic Analysis has the link.
1 year bonds have crept up from 30% to 94% in the last few weeks.