Greece will make a €6.9 billion early debt repayment in June that will push its debt-to-GDP ratio below Italy's for the first time, ending its status as the Eurozone's most indebted nation relative to economic output — a symbolic milestone that carries significant weight for a country that needed three international bailouts to avoid bankruptcy.
It was either that, or be booted from the Euro. Governments will usually start acting right when their money spigot is threatened.