Far from being the name of something that brings smiles to the faces of young children however, it's actually the latest one-word take on the likely outcome of Greece's protracted, painful negotiations with creditors, which will continue tomorrow in Riga where progress is, according to pretty much everyone that will be involved, unlikely. The new term follows in the footsteps of the classic (but now tired) "Grexit" and its underrated predecessor "Graccident," and refers to two of the four outcomes Citi imagines are possible in the unfolding Greek drama. Here, via Citi, are the scenarios that would constitute Grimbo:

A new programme agreed, but only after capital controls were imposed and/or a Greek government default

 In this scenario, current negotiations would fail to produce an agreement until a major event (or shock) occurs. Such an event could be that i) the ECB limits access for Greek banks to ELA (as it either runs out of patience about the lack of negotiations, or Greek banks face a large increase in funding outflows), ii) PM Tsipras calls a referendum (on the new programme or Eurozone membership) or snap elections, or iii) the Greek government misses a payment/defaults.