Greece doesn't have a liquidity problem -- it is insolvent. Without transfers of wealth from richer states like Germany and France to retire significant amounts of its sovereign debt, Athens must restructure its bonds -- essentially default on significant portions of its obligations to bondholders.
Germany and France are at wits' ends, because their banks hold a good deal of that debt and would take big losses, and other poor EU governments would likely follow Greece's lead. Paying off Greek creditors may be distasteful, but covering the problems of all the EU governments in trouble is beyond the capacity of Germany and the other richer EU states.
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