Time: Greece Refuses a Bailout Extension to Set Up a Weekend Cliffhanger
Tick, tock, tick, tock ...
Greece’s fate, and possibly the fate of Europe’s signature project on integration for the last 25 years, is about to be decided this weekend.
Hopes of a breakthrough on Friday were dashed after the Greek government rejected an offer from its creditors to extend the country’s current bailout deal for another five months if it agreed to further tax raises and spending cuts, largely in the area of pensions.
It’s now up to the Eurogroup — the Finance Ministers of the 19 Eurozone members — to thrash something out at a meeting on Saturday in Brussels. The talks have been moved up by two hours to start at 1400 local time (0800 ET), anticipating another marathon session of haggling over the fine points.
More News On The Greek Debt Crisis
Greece, creditors edging closer to rescue deal -- AP
Greece's Tsipras summons cabinet as debt deadline nears -- Reuters
Greece Pressured to Bow to Deal at Meeting Touted as Decisive -- Bloomberg
Greece's Creditors Offer $17.3 Billion Package to End Standoff -- Bloomberg
Tsipras Cites Blackmail as Merkel Prods Greece to Take Offer -- Bloomberg
Greece Standoff Could Drag On Regardless of Deal -- WSJ
Greece faces a 'ring fence' of capital controls without an immediate bailout deal -- Business Insider
For Greece, Debt Deadline Imminent -- VOA
What happens if Greece defaults? -- CBS
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