What's unclear is whether the idea being floated by eurozone officials that existing creditors of Greece should be encouraged to re-lend to Greece, when their debts mature, would count as a default.

BBC: Eurozone woes are US woes

But if political paralysis begun by May's vote continues, the uncertainty over whether Greece can remain in the eurozone will intensify.

CNN: The future of Europe: 3 scenarios

The vote was widely seen as a referendum on whether Greece should remain in the euro, the currency used by 325 million people across 17 countries in Europe.

CNN: Greek party official: Coalition talks to be held Tuesday

Ford, GM, and other automakers are dealing with a significant downturn in Europe, triggered by problems in Italy, Greece and Spain, and concerns over whether the Eurozone can stay cohesive.

FORBES: Ford And GM Try To Outrun Europe's Auto Slump

Focus is on whether the EU leaders can provide help so that Greece will not technically default on its debt obligations, or whether some level of default will occur with Greece, and will be acknowledged by the EU as going to occur.

FORBES: Comex Gold, Silver Firmer as EU Summit Results Awaited

Whether the government can deliver on its pledges will depend on how they are viewed by Greece's international creditors.

MSN: Greek PM cannot attend EU summit due to surgery

Yet even if the deal pipeline is accelerated by the new chairman and chief executive of the Hellenic Asset Development Fund (TAIPED), the privatisation agency, appointed last month by the coalition government, few investors are likely to appear until it becomes clear whether Greece will stay in the euro zone.

ECONOMIST: The reform programme is badly behind schedule